_Economy and Finance

Eco Analysis - UK lending positive again but SME finance still weak (B. Hilliard) The UK money and credit release showed mortgage approvals picking up much as expected - a slightly faster pace from 63.4k to 66.7k. This is still very low compared to all the hype about the housing boom though but further gains are certain to follow. Consumer credit was a little bit weak at only £0.4bn.

http://www.pionline.com/article/20131028/PRINT/310289996/real-estate-assets-still-growing-but-at-a-slower-pace Real estate assets still growing, but at a slower pace Worldwide figure climbs to $882 billion; U.S. institutional tax-exempt total rises 10% BY ARLEEN JACOBIUS | OCTOBER 28, 2013 Buoyed by rising property values, total worldwide assets of the largest institutional real estate money managers responding to Pensions & Investments' annual survey grew 9% to $882.2 billion in the year ended June 30, exhibiting slower growth than the 11.7% of last year's survey.

Housing in Germany grows more expensive than ever The cost of buying a home or renting an apartment in major cities in Germany is rising sharply, the central bank warns. That's how the crisis in the US, Ireland and Spain began. Is Germany next? http://www.dw.de/housing-in-germany-grows-more-expensive-than-ever/a-17181528

German house prices could be overvalued by 20%: Bundesbank Matt Clinch | @mattclinch81 Tuesday, 22 Oct 2013 | 2:55 AM ET Housing prices in several cities in Germany could be overvalued by as much as 20 percent, according to the country's central bank. http://www.cnbc.com/id/101130887

10:47 am ET Oct 21, 2013 Global Germany’s Central Bank Warns of Local Housing Bubbles Germany’s central bank, the Deutsche Bundesbank, sounded an alarm Monday, warning that urban real estate in the country could in some cases be significantly overvalued, against a backdrop of low interest rates. http://blogs.wsj.com/economics/2013/10/21/germanys-central-bank-warns-of-local-housing-bubbles/

Frankfurt am Main | 2013-10-21 Possible overvaluation of residential property in German cities Housing prices in German cities have been rising so strongly since 2010 that a possible overvaluation cannot be ruled out. This is the finding of an article contained in the Bundesbank’s most recent Monthly Report. According to this article, there are no signs of substantial exaggerations in the housing market as a whole. Nevertheless, price rises have been observed in urban centres, in particular, which “are difficult to justify based on fundamental factors”, the Bundesbank says. http://www.bundesbank.de/Redaktion/EN/Topics/2013/2013_10_21_possible_overvaluation_of_residential_property_in_german_cities.html

http://www.efinancialnews.com/story/2013-10-18/ubs-launches-infra-debt-platform UBS launches infra debt platform Sarah Krouse in Manchester 18 Oct 2013 UBS Global Asset Management has made its first push into infrastructure debt, with the unveiling of a new platform seven months after appointing a senior investment banking executive to spearhead the move.