Latest Macro Commentary

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

Macro Commentary

Gavyn Davies' Blog

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...
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...
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...
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...