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Latest Macro Commentary
The Macro Commentaries are based on the FT Blogs by Gavyn Davies.
The economic damage from a trade war
March 20, 2018
Economists are taught trade wars are almost...
Gavyn Davies' Blog
Reasons to be cheerful about the US tax cuts
March 13, 2018
Package widely criticised but research suggests supply-side...
Early signs of normalisation in global growth
March 6, 2018
Cyclical surge has slowed down but the...
What to look for in Jay Powell’s inaugural address
February 28, 2018
Powell was the continuity candidate for the...
Trump’s fiscal gamble and the US twin deficits
February 20, 2018
A large fiscal boost so late in...
Equity melt up turns towards melt down
February 13, 2018
Volatility is back as equity markets pay...
Anatomy of the escalating bond bear market
February 6, 2018
With term premia now back to ‘normal’ bonds...
Dollar weakness driven by monetary policy after all
January 30, 2018
The gyrations of the US dollar took...
Oil shock fails to disturb optimistic mood
January 29, 2018
As the global economic upswing continues to...
Ultra low market volatility – friend or foe?
January 16, 2018
The financial markets have started 2018 in...
Can secular stagnation morph into secular expansion?
January 9, 2018
In the last few years, it has...
Global growth in 2018 – slowing but not slow
December 12, 2017
There is now an almost complete, if...
The changing of the guard at the Fed
December 5, 2017
It is now widely recognised that President...