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    Le déluge - France remains on a downward path

    Le déluge - France remains on a downward path

    29 August 2025

    The forthcoming confidence vote in the French parliament looks set to topple the government. We consider the likely outcomes.

    Fiscal fault lines: A global review of sovereign fiscal health

    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:  Global trade in chains - tariff revenues

    Global macro research: Global trade in chains - tariff revenues

    13 August 2025

    U.S. tariff hikes are generating record revenues—now $29 billion monthly—and are projected to offset part of the fiscal burden from new spending, though not enough to reverse the country’s unsustainable debt trajectory.

    Previous research

    Dollar dominance: holding on in a fragmenting world

    Dollar dominance: holding on in a fragmenting world

    10 July 2025

    The US dollar remains the strongest candidate for global reserve currency status, but its dominance is no longer absolute.

    State of the world

    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.

    US exceptionalism: at a crossroads

    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.

    Trade Wars 2025

    Trade Wars 2025

    04 June 2025

    Tariff uncertainty has created considerable market volatility, but impact on growth remains unclear. We take a look at what my lie ahead.

    What a tripolar world means for Europe

    What a tripolar world means for Europe

    04 June 2025

    We ask Gideon Rachman, Chief Foreign Affairs Commentator at the Financial Times to give his thoughts on the global outlook

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      Global macro research: Editorial committee

      Global macro research: Editorial committee

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