_Economy and Finance

THE INTELLIGENT INVESTOR April 24, 2013, 12:25 p.m. ET Here Comes the Next Hot Emerging Market: the U.S. By JASON ZWEIG The investment visionary who coined the term "emerging markets" and helped launch the first funds to invest in developing countries thinks he has spotted what you might call the next great emerging market. It is called "the United States." http://online.wsj.com/article/SB10001424127887324763404578432832232151840.html

SAMSUNG SRA ASSET MANAGEMENT AND CUSHMAN & WAKEFIELD INVESTORS ACQUIRE 30 CROWN PLACE IN THE CITY OF LONDON 24 Apr, 2013, London Samsung SRA Asset Management ('Samsung SRA') through Cushman & Wakefield Investors ('CWI') has acquired 30 Crown Place, London EC2, on behalf of South Korean institutional investors from a fund managed by Hannover Leasing GmbH & Co. KG. http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Language=EN&repId=c59700005p&Country=GB

Distressed Debt Buyers Eye European Market Apr. 24, 2013 Beth Mattson-Teig Investors hunting for higher yields are turning their attention to Europe, where a substantial pipeline of distressed commercial real estate debt is poised to hit the market. http://nreionline.com/private-equity/distressed-debt-buyers-eye-european-market

Top of Mind: Bond Bubble Breakdown Published April 22, 2013 Hi all, just out with a new Top of Mind: Bond Bubble Breakdown. Near multi-generational low bond yields, driven at least in part by US Federal Reserve asset purchases, has pushed the question of whether or not the bond market is a bubble to Top of Mind.

Docklands: Shifting the market dynamic for Melbourne CBD office Australia ViewPoint ​SUMMARY Docklands has been the engine room of growth in the Melbourne CBD office market over the last decade or so and based on existing development will continue to be over 2013 and 2014. The historical strong growth has been well absorbed against a backdrop of strong conditions in the office occupier markets, which saw the Melbourne market outperform other capital cities in terms of space growth and yield. With occupier conditions now materially weaker, forthcoming supply in Docklands poses clear risks to CBD vacancy. To date, the market seems to be digesting this as part of a cyclical slowing, a rebalancing or “normalisation” after a period of strength, rather than posing a material risk to the long run performance of the Melbourne market. Yields have been relatively stable, particularly for premium assets. We think that is likely to remain the case through 2013 and 2014. Download full ...

Commerzbank Corporates & Markets Economic Research https://research.commerzbank.com Economic Briefing ZEW: Poor data cause concern among analysts The ZEW Index for economic expectations in Germany tumbled from 48.5 to 36.3 in April, which was a stronger fall than expected by most analysts. The camp of economic optimists has clearly shrunk. This was probably caused by the decline in sentiment indicators in March and the poor data from German industry. Even so, we still expect the German economy to pick up considerably in the coming months. This is likely to be confirmed by the purchasing managers’ index and the Ifo business climate – due next week – that should recover from March-setbacks. Analyst: Ulrike Rondorf

Eco Analysis - German ZEW survey fell in April (H. Amourda, B. Hilliard) ■ German ZEW survey fell in April Waiting for the WEO of the IMF, some key economic data were released this Tuesday. The German ZEW survey (economic sentiment) fell for the first time since November 2012, from 48.5 to 36.3 in April. On the inflation side, the final euro aggregate CPI inflation confirmed the flash estimate at 1.7% yoy while the UK CPI printed at 2.8% yoy in March. Looking ahead, we will watch closely the UK labour data and MPC minutes due to be released on Wednesday. The German ZEW survey reported a fall in both current situation (down 4.4 points to 9.2) and economic sentiment (down 12.2 points to 36.3). The Cyprus bail-in and questions on the euro area crisis management probably affected investors' sentiment. However, the balance of answers is still positive and points to an improvement of the economic growth in the next six months. Moreover, it is too early to expect a continued downwar...