Latest Macro Commentary

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

Macro Commentary

Gavyn Davies' Blog

The response to secular stagnation will drive the markets post-Covid

The response to secular stagnation will drive the markets post-Covid

January 5, 2021
Much depends on how much Joe Biden...
As Covid optimism grows, investors seek to hedge against inflation risk

As Covid optimism grows, investors seek to hedge against inflation risk

December 15, 2020
The global reflation trade means a change...
The risks of the global Covid debt bridge

The risks of the global Covid debt bridge

December 8, 2020
Markets seem unconcerned that the pandemic has...
Democracies that failed the Covid test will struggle on climate change

Democracies that failed the Covid test will struggle on climate change

November 16, 2020
Efforts to address both issues are hampered...
The future of fiscal policy without traditional constraints

The future of fiscal policy without traditional constraints

November 2, 2020
Covid response has shown inflation and interest...
Japan’s Suga inherits an economy stabilised by Abenomics

Japan’s Suga inherits an economy stabilised by Abenomics

October 20, 2020
The country is no longer such an...
Global goods sector drives economic recovery

Global goods sector drives economic recovery

October 6, 2020
Markets are reflecting sectoral shifts in the...
Expect long-term economic scarring from Covid-19

Expect long-term economic scarring from Covid-19

September 22, 2020
Forecasts for GDP growth look optimistic, but...
The Fed risks higher inflation to boost jobs

The Fed risks higher inflation to boost jobs

September 9, 2020
The US central bank’s new monetary framework...
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...