Global growth appears to have remained above average through the first half of 2018, but with our leading indicator pointing to a moderation in coming quarters, we think that this will represent the peak for this cycle.

Markets turned on their head a little today, as the possibility emerges of trade talks between the US and China before the end of the month.

Growth remains above trend, but risks a concern.

Last month we saw our national index move through the tenth straight month of falling home values.

The US dollar and equities are on the rise and EM currencies teetering on the edge of a bearish market.

An unchanged economic outlook, but downside risks building.

Markets seem less concerned about the troubles in Turkey.

The business conditions index fell by 2pts to +12 index points in July, continuing its run of declines since April. Business confidence ticked up 1pt to +7 index points, an around average level.

The Turkish Lira continues to fall.