Bidding War Ban Threatens Fair Tenant Allocation
So many issues with this, which will be fixed once the rubber hits the road. The most baffling is the ban on bidding wars and "discrimination" ... how do you think LLs will allocate their tenancies if they can't do so on price offered? Lottery? This combined with the difficulty to get rid of bad tenants for the first 12-16 months mean that some tenant groups will find it extremely difficult to get a tenancy.
Leaseholders Need Manager Control, Not Just Rent Caps
Assuming @UKLabour is actually going to push through ground rent cap as promised (which is debatable), the next crucial step is to allow leaseholders to appoint their own managers and control their work. Caps won't get us anywhere, but...
Lagarde
I mean, Lagarde all but confirmed this when she said a) inflation is moving away from the baseline and b) the baseline is conditional on two hikes.
Lagarde Signals Two Rate Hikes in March Forecast
Lagarde basically underwriting the idea that the baseline forecasts in March includes two rate hikes
Downside Risks Loom for EZ Q1 GDP Amid Spanish Slowdown
Risks are shifting to the downside for the EZ Q1 GDP print today, especially if Spanish growth cools more than expected and Ireland mean-reverts further.
Rising Yields Safe Until Recession Hits Deficits
See lots of reference to higher gilt yields and the threat to public finances. As long as nominal GDP is purring at +5% it doesn't matter. But if you have a recession, and a nominal slowdown, with automatic stabilisers blowing...
Nervous Market Stagnates Amid Energy Crisis and Stagflation
Nervy equilibrium here ... no one wants to sell, let alone short, equities and risk being caught out by a TACO ... in the meantime the global energy structure is reeling and the macro outlook is sinking deeper into a...
Markets Must Push Harder as US 10‑Year Hits
Markets need to try a lot harder if they want Trump to tap out in Iran. US 10y above 5% and 5-to-10% lower in Spoos, at least ...
Price Expectations Surge, Near Last Year's Peak
Selling price expectations in the April EC survey are ugly all day long. Clear upside pressures building in the core components on a six/12m basis and in food, the index has, in two months, leapt to within the peak last...
Eurozone Inflation Teeters: Spain Down, Core May Dip
EZ inflation for April is now trickling in, with the Spanish number already posting a small downside surprise. Headline increases in France and Germany mind drive a further gain in the EZ headline, but the core could surprise lower due...
Leaseholders Stuck Paying Costs Freeholders Should Cover
WW watch costs should fall on the freeholders and they would evaporate. But they don't so leaseholders pay ... comme d'hab
ERZ6/7 Reprice as Inflation Expectations Decouple, Credit Tightens
ERZ6 and ERZ7 repricing sharply on evidence from the ECB's CES that consumer inflation expectations are now becoming unmoored from the 2%, completely ignoring the dire BLS, pointing to a sharp, albeit unbalanced, tightening in credit standards and falling credit...
From Space Operas to Canadian Shorts: A Reading Roundup
Things to think about #17 - - The Land Trap, The Dragonlance Chronicles, Revelation Space, and Canadian Short Fiction, https://t.co/lVORDg5xg2. My latest blog post, rounding up my latest reading, featuring @Birdyword
Open Door for UK‑EU Reintegration, FoM Irrelevant
An under-reported consequence of this—as a generic example—is that the door is wide open for the UK and the EU to re-integrate. FoM isn't an issue; indeed, I think the EU possibly won't want to offer it to the UK...
UK Fiscal Crisis: Unsustainable Spending and Revenue Threaten Economy
The UK fiscal situation is unsustainable on both the revenue and spending side, on their own. In combination, it's a massive macro risk for no reason whatsoever except political paralysis and lack of imagination.