DAVY VIEW

Equity markets rose on Wednesday (February 13th) on further optimism on US/China trade talks, but data this morning show the German economy narrowly escaped a technical recession in 2018, with GDP flat in Q4. Amidst a further round of Brexit votes today, the Royal Institution of Chartered Surveyors (RICS) survey indicates that a majority of estate agents (-40%) expect price falls over the next three months — the worst reading since 2009.