Turkey: Trade deficit surprised to the downside

Turkey: Trade deficit surprised to the downside

At USD 5.5bn, October’s foreign trade deficit was lower than the market expectations (USD 8.2bn) and our forecast (USD 7.4bn) mostly due to lower-than-expected imports. October’s fiscal data was implying an increase in imports. Nevertheless, on a seasonally adjusted basis, imports contracted by 4.1% m/m in October. Exports increased by 0.7% m/m. As a result, 12-month cumulative trade deficit declined from USD 87.7bn in September to USD 85.2bn in October. Similarly, non-energy trade deficit contracted by USD 2.2bn to USD 33.2bn in October.

Chile: Manufacturing beat expectations in October; robust GDP reading expected next week

Chile: Manufacturing beat expectations in October; robust GDP reading expected next week

Florencia Vazquez - Market Economics
Latam Macro Snapshot | 29 Nov 2012 14:32 | 46 Kb

Manufacturing production advanced a whopping 9.1% y/y in October, following a 5.6% y/y plunge in September. A strong performance was expected thanks to the fact that October this year had three additional working days, but actual IP growth stood above our already optimistic forecast and the median estimate from the Bloomberg survey (5.0% and 3.0% y/y, respectively).

Chile: Neutral minutes with a catch

Chile: Neutral minutes with a catch

Nader Nazmi - Market Economics
Latam Macro Snapshot | 28 Nov 2012 16:32 |

We read the minutes of the 13 November monetary policy meeting as broadly neutral regarding the short-term outlook, ruling out any changes in the policy rate over the next several months. Although inflation is not an issue at present, the minutes show some concern about latent price pressures given the economy’s strong momentum.

The WMI Top 10 Hotel & Resort Operators in Europe: Company Guide

The WMI Top 10 Hotel & Resort Operators in Europe: Company Guide
Published: November 2012 | Region: Europe | 252 pages | World Market Intelligence

Synopsis
- "The WMI Top 10 Hotel & Resort Operators in Europe: Company Guide" is a crucial resource for anyone looking to gain information on the top companies in the Travel and Tourism industry in Europe. Detailed company profile and SWOT analysis information is provided for all the leading companies who are ranked in order by total annual revenues generated

http://www.researchandmarkets.com/research/f2tj8c/the_wmi_top_10

Stocks dead, bonds deader till 2022: Pimco

http://articles.marketwatch.com/2012-11-27/commentary/35368213_1_el-erian-new-bull-money-managers

Stocks dead, bonds deader till 2022: Pimco
Paul B. Farrell
Commentary: Gross, El-Erian warn of very slow growth ahead
November 27, 2012 | Paul B. Farrell, MarketWatch

SAN LUIS OBISPO, Calif. (MarketWatch) — Big money managers are warning investors. They’re now citing the Bible: “Seven lean years.” No recovery till 2016. That was Jeremy Grantham back a few years ago. His GMO firm manages $104 billion.

Many U.S. Office Markets to Improve in 2013, Accelerating in 2014

World Property Channel

Many U.S. Office Markets to Improve in 2013, Accelerating in 2014
Posted by Hortense Leon 11/27/12 8:00 AM EST

The office vacancy rate will continue to decline in 2013 and more so in 2014, according to the CBRE Group. The rate will fall to 14.9% next year and 13.8% in 2014, according to the commercial real estate brokerage firm.

Peru, Chile and Mexico are Societe Generale's favourites for LatAm investments

http://www.investmenteurope.net/

Peru, Chile and Mexico are Societe Generale's favourites for LatAm investments
By: Chiara Albanese
27 Nov 2012

Despite the global slowdown, favorable domestic conditions have supported the growth of Latin America's most open economies, such as Peru, Chile and Mexico, and forecasts suggest strong capital inflows for 2013 which will fuel credit growth, according to Societe Generale.

Chile: Strong October partial activity data expected this week.

Chile: Strong October partial activity data expected this week.

CHILE

Strong October partial activity data expected this week. Activity report will be released on Thursday. We expect the pace of manufacturing production to have swung back into positive terrain in October. Our forecast is for a 5.0% y/y expansion, after a 5.6% y/y plunge in September. We look for a moderate expansion in sequential terms.

U.S. Commercial Property Sector Enjoying Rising Rents as Vacancies Slowly Decline, Says NAR

U.S. Commercial Property Sector Enjoying Rising Rents as Vacancies Slowly Decline, Says NAR
Posted by Michael Gerrity 11/26/12 11:33 AM EST

According to the National Association of Realtors (NAR) quarterly commercial real estate forecast, most of the major commercial real estate sectors show gradually improving fundamentals and are easily absorbing the relatively small amount of new space that is coming online, with a full recovery already in the multifamily market.

CMBS Issuance Expected to Increase by 50% in 2013

World Property Channel

CMBS Issuance Expected to Increase by 50% in 2013
Posted by Hortense Leon 11/26/12 10:08 AM EST

While there are a number of challenges that will face the US economy in 2013, good news is forecast for the CMBS market in the new year. According to a November 21th report issued by Deutsche Bank, the non-agency issuance volume of CMBS will increase by 50% to approximately $60 billion. That would be the highest total volume of CMBS issuance since the financial meltdown.