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Navigating the US data shutdown
21 October 2025
The US federal government shutdown has delayed several key economic data releases, forcing markets to pay closer attention to alternative data sources and complicating the Fed’s decision-making process.
Le Déluge: The French pensions problem
17 October 2025
We explore the structural challenges facing the French government.
Le Déluge: The centre cannot hold
10 October 2025
Another month, another failed French government. President Macron’s centrist experiment appears to be reaching an end.
Archive
US exceptionalism: at a crossroads - video
26 September 2025
US exceptionalism has underpinned a long period of asset outperformance, but we stand at a cross roads, and this long standing trend may be drawing to a close.
Le déluge: France remains on a downward path
29 August 2025
French Prime Minister François Bayrou has called a confidence vote for 8 September 2025.
Fiscal fault lines: A global review of sovereign fiscal health
27 August 2025
We provide a comprehensive assessment of fiscal sustainability across developed and emerging markets.
Global Macro Research: State of the world
25 June 2025
Markets have started to price in UK policy easing in 2024, but we believe those looking for aggressive cuts may be disappointed.
Global Macro Research - US exceptionalism: at a crossroads
09 June 2025
US exceptionalism has underpinned a long period of asset outperformance, but we stand at a cross roads, and this long standing trend may be drawing to a close.