Latest Macro Commentary

The Macro Commentaries are based on the FT Blogs by Gavyn Davies.

Macro Commentary

Gavyn Davies' Blog

US Covid-19 surge could trigger a double-dip recession

US Covid-19 surge could trigger a double-dip recession

July 20, 2020
Markets are ignoring the possibility that severe...
Central banks expand their role to address the crisis

Central banks expand their role to address the crisis

July 14, 2020
Far from being impotent, they have again...
Big data suggests a difficult recovery in US jobs market

Big data suggests a difficult recovery in US jobs market

July 10, 2020
Private sources paint a detailed and worrying...
The safe-asset shortage after Covid-19

The safe-asset shortage after Covid-19

June 29, 2020
Demand has outstripped supply since 2009 but...
Will public debt be a problem when the Covid-19 crisis is over?

Will public debt be a problem when the Covid-19 crisis is over?

June 23, 2020
There is unanimity about macroeconomic policy for...
Managing Covid debt mountains is a key task for the next decade

Managing Covid debt mountains is a key task for the next decade

June 9, 2020
Treasury bond issuance and central bank QE...
The effects of Covid-19 could deepen secular stagnation

The effects of Covid-19 could deepen secular stagnation

June 2, 2020
Monetary policy as we know it has...
Penny-pinching consumers could spell trouble for recovery

Penny-pinching consumers could spell trouble for recovery

May 26, 2020
US savings rates are pushing towards record...
Why the US jobless surge is worse than in Europe

Why the US jobless surge is worse than in Europe

May 18, 2020
America’s emergency aid supports those made unemployed...
After lockdowns, economic sunlight or a long hard slog?

After lockdowns, economic sunlight or a long hard slog?

May 5, 2020
Equities imply that economic activity will swiftly...
The deflation threat from the virus will be long lasting

The deflation threat from the virus will be long lasting

April 27, 2020
Supply lockdowns could cause bigger declines in...
The SDR is an idea whose time has come

The SDR is an idea whose time has come

April 20, 2020
An issue of new special drawing rights...