Perth and Melbourne office markets have the brightest prospects as commercial property sentiment lifts: NAB Index

Perth and Melbourne office markets have the brightest prospects as commercial property sentiment lifts: NAB Index

By Larry Schlesinger
Wednesday, 22 May 2013

The Melbourne and Perth office markets are forecast to deliver the strongest returns to commercial property landlords over the next two years with both capital values and rents rising, according to the March quarter NAB Commercial Property survey.

http://www.propertyobserver.com.au/commercial/perth-and-melbourne-office-markets-have-the-brightest-prospects-as-commercial-property-sentiment-lifts-nab-index-nab/2013052261577

Capital targeted by Europe-focused real estate debt funds up 335% from a year ago

Capital targeted by Europe-focused real estate debt funds up 335% from a year ago
BY: TIMOTHY POLLARD
PUBLISHED: MAY 20, 2013

According to data tracked by Preqin, there are currently 19 Europe-focused real estate debt funds in the market targeting commitments of €10 billion ($12.8 billion) - compared to just €2.3 billion ($2.9 billion) a year ago. The increase is driven by institutional investors' increased appetite for real estate debt, as the number of new fund searches increased significantly from a year ago. Among new fund searches in the first-quarter of 2013, 27% were targeting real estate debt funds, compared with 8% in the first quarter of 2012.

http://www.pionline.com/article/20130520/CHARTOFDAY/130529999

PIMCO : "As Energy Demand Outpaces Supply, Asia Looks Overseas to Refuel" - Asia Credit Perspectives by Raja Mukherji and Taosha Wang

A new Asia Credit Perspectives by Raja Mukherji and Taosha Wang is available on pimco.com.

As Energy Demand Outpaces Supply, Asia Looks Overseas to Refuel

· We expect more Asian oil and gas companies to tap the bond market going forward, often to finance acquisitions outside the region.

· Many Asian countries are encountering growing energy shortages due to declining indigenous resources and domestic consumption growth.

· Oil companies in Asia frequently engage in overseas acquisitions. In many cases, these transactions help enlarge reserve base, access technological know-hows and enhance corporate profitability.

· Strong sovereign support is a key investment thesis in the Asian oil and gas sector. Through our bottom-up analysis, we are finding numerous investment opportunities.

Melbourne CBD (JLL)

Melbourne CBD
20.05.2013

How would you describe your market at the moment?

Melbourne, like many other Australian CBD office markets is characterised by a challenging demand environment. Occupiers remain reluctant to move or make long-term decisions while commodity and financial markets are volatile.

http://www.joneslanglasallesites.com/leasing/market-overview/melbourne-cbd-5

Chile: Q1 Growth Disappoints

Chile: Q1 Growth Disappoints

Nader Nazmi - Market Economics
Latam Macro Snapshot | 20 May 2013 16:29 |

GDP growth came in 4.1% y/y in Q1, weaker than the consensus estimate of 4.5% and our own projection of 4.4%. On a quarterly basis, growth posted 0.50% q/q (sa) higher in Q1, in line with our 0.45 q/q call but weaker than 1.0% q/q consensus projection (Chart 1).

3 Foreign Companies Invest in U.S. Project to Export Liquid Gas

MERGERS & ACQUISITIONS MAY 17, 2013, 2:36 PM
3 Foreign Companies Invest in U.S. Project to Export Liquid Gas
BY STANLEY REED

In a sign that the United States shale gas boom is making global waves, two Japanese conglomerates and a big French energy player signed agreements on Friday to invest up to $7 billion in a liquefied natural gas project in Louisiana.

http://dealbook.nytimes.com/2013/05/17/3-foreign-companies-invest-in-u-s-project-to-export-liquid-gas/

London office market 'reborn'

London office market 'reborn'
Thursday 16 May 2013

Construction activity in the capital running at three times the level of three years ago, with 9.7 million sq ft of office space under construction.

http://www.deloitte.com/view/en_GB/uk/news/news-in-focus/e72971f2eacae310VgnVCM2000003356f70aRCRD.htm

RPT-Fitch: Strong Refinancing Activity in German Multifamily Housing Market

RPT-Fitch: Strong Refinancing Activity in German Multifamily Housing Market
Tue May 14, 2013 3:40am EDT

http://www.reuters.com/article/2013/05/14/fitch-strong-refinancing-activity-in-ger-idUSFit65614820130514

May 14 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings says in a new report that refinancing activity has been strong in the German multifamily (MFH) CMBS transactions, but balloon risk still remains.

Peru: Deteriorating terms of trade and trade balance in Q1

Peru: Deteriorating terms of trade and trade balance in Q1

Nader Nazmi, Oscar Munoz - Market Economics
Latam Macro Snapshot | 13 May 2013 20:37 |

The trade balance shifted to a deficit of USD 29mn in Q1 from a surplus of USD 1.5bn in Q4. On a 12-month accumulated basis, Peru’s trade surplus narrowed to USD 3.4bn in March from USD 10.8bn a year ago.

Why are Chinese copper imports falling?

May 8, 2013
Metal Detector Update
Why are Chinese copper imports falling?

Max Layton, Roger Yuan, Jeffrey Currie

Lower Chinese copper imports do not equal weak consumption

Chinese unwrought copper imports for April fell by 7% mom, and dropped 21% yoy over the same period, implying a 20-25kt mom fall in refined copper imports in April, to c.195-200kt. The mom fall reflects China’s ability to draw on domestic SHFE and Chinese bonded copper stocks accumulated in 2012, as well as lower Chilean exports owing to the port strike in late March/early April. Owing primarily to the large Chinese stock draws, the early indications are that Chinese apparent demand rose significantly in April, following a small pick-up in March (apparent demand equals refined production plus net imports minus estimated stock change). This estimated pick-up in apparent demand is line with strong semi-fabricated output growth in 1Q13 and industry anecdotes of a further pick-up in demand in April.