UK public finances continue on their improving path

Sep 22, 2015 04:51 am UTC| Commentary Economy

UK budget deficit is clearly improving compared to the previous fiscal year. In the four months to July, spending was flat compared to the same period a year earlier whereas revenues were up 4.4%. As always, there are...

U.S. mortgage rates continue their two-year decline

Sep 21, 2015 02:00 am UTC| Commentary Economy

US mortgage rates continue their two-year decline. Last weeks decision by the Fed not to hike Fed funds pushed 15Y fixed mortgage rates down by another 5 basis points to 2.92%, where they sat back in early-2013, just...

UK public finances continue on their improving path

Sep 21, 2015 00:54 am UTC| Commentary Economy

The UK budget deficit is clearly improving compared to the previous fiscal year. In the four months to July, spending was flat compared to the same period a year earlier whereas revenues were up 4.4%. As always, there are...

US industrial output remains sluggish, while motor vehicles distort headline

Sep 16, 2015 04:05 am UTC| Commentary Economy

US total industrial production fell 0.4% m/m in August. Manufacturing output fell sharply by 0.5% as the seasonal boost to July motor vehicle output was unwound. Motor vehicle and parts production fell 6.4% m/m in August...

Recovery is still missing for China

Sep 14, 2015 01:47 am UTC| Commentary Economy

Fixed asset investment (FAI) surprisingly weakened to 9.2% yoy in August, the slowest in a decade. Manufacturing investment growth only ticked up fractionally, despite a positive base effect. Mining investment recorded a...

Moving past zero inflation in UK, but still a long way from 2%

Sep 13, 2015 21:05 pm UTC| Commentary Economy

GBP rallied strongly against the USD last week despite a set of BoE MPC Minutes that were, at the margin, more dovish. While the MPC showed optimism on the domestic outlook, they were concerned about recent global...

Low commodity prices reflected in Australia’s economic performance and currency

Sep 13, 2015 08:03 am UTC| Commentary Economy

Australias economic performance remains relatively soft, partially reflecting low iron ore prices and weaker import demand from China. Real GDP grew by 0.2% q/q (2.0% y/y) in the second quarter of 2015 following a solid...