Global macro research hub
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Asset Allocation in Focus
November 26, 2025
The performance of any asset class is driven by a complex set of forces
France: steps towards a second eurozone sovereign crisis
November 25, 2025
France faces a precarious political and fiscal outlook, with implications for investors to consider.
Business investment, profits and the growth cycle
November 18, 2025
We explore the evolving role of business investment – particularly the recent surge in AI-related capital expenditure – as a key driver of global growth.
Previous research
Rare earths vs semiconductors – what are they playing at?
November 10, 2025
President Trump is playing poker; President Xi is playing weiqi.
Navigating the US data shutdown
October 21, 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
October 17, 2025
We explore the structural challenges facing the French government.
Le Déluge: The center cannot hold
October 10, 2025
Another month, another failed French government. President Macron’s centrist experiment appears to be reaching an end.
Le déluge: France remains on a downward path
August 29, 2025
The forthcoming confidence vote in the French parliament looks set to topple the government. We consider the likely outcomes.
