Event Europe Drop-In: Germany's political crisis – Macro and market consequences 13th November 2024, 3:00PM GMT Could the collapse of Germany’s ruling ‘traffic light’ coalition open the way to more effective governance for Europe’s largest economy? What bearing will political uncertainty have on its financial…
Global Economics Focus The macro and market consequences of a second Trump administration Donald Trump’s second presidency is likely to result in lower US GDP growth, faster US inflation and a slightly higher path for the fed funds rate. The implications for the rest of the world are... 6th November 2024 · 14 mins read
Global Economics Focus Getting a clear read on labour market conditions The September release of US non-farm payrolls was just the start of a run of strong employment releases in advanced economies this month, reigniting fears about pay growth and inflation. However, when... 21st October 2024 · 13 mins read
Global Economics Focus How to gauge recession risk in DMs Getting an early steer on whether an economy has entered recession requires a holistic assessment of a variety of indicators to see if multiple variables are flagging recession at the same time. In... 9th September 2024 · 16 mins read
Global Economics Focus Global imbalances will continue to fuel fracturing The renewed widening of global imbalances has become another faultline in the fracturing of the world economy, and will continue to provoke trade barriers in the coming decades. With overall... 14th August 2024 · 17 mins read
Global Economics Focus Why is productivity so weak outside the US? Productivity growth in most advanced economies has been much weaker than that in the US since the pandemic. This partly reflects the relative weakness of demand, coupled with a degree of labour... 29th April 2024 · 17 mins read
Global Economics Focus Excess Savings RIP We think that it is now time for the curtains to close on the so-called ‘excess savings’ debate. While unusually high savings accumulated by households during the pandemic helped prevent recessions in... 3rd April 2024 · 20 mins read
Emerging Markets Economics Focus EM financial risk – An early warning system The past few years have sharpened investors’ focus on assessing risks and vulnerabilities across the EM world. We have developed a comprehensive suite of indicators to identify early signs of a... 20th March 2024 · 17 mins read
Global Economics Focus Have we reached the end of the housing correction? Housing markets in developed economies have perplexed forecasters since 2019. The boom in prices in 2020-22 was not anticipated, and the fall in prices since has been smaller than expected. In this... 14th February 2024 · 17 mins read
Global Economics Focus Financial stability in a world of higher interest rates Although the recent transition to a higher interest rate climate has not caused any lasting or systemic financial flare ups, it is probably too soon to sound the all-clear. And while a higher interest... 8th February 2024 · 19 mins read
Global Economics Focus Tight real policy stance supports case for big rate cuts The drop in inflation across advanced economies has caused real interest rates to rise by even more than nominal rates. While there are various ways to measure real interest rates, they all confirm... 31st January 2024 · 17 mins read
Global Economics Focus Do elections really matter for the economy? The economic influence of elections is often overstated. They have only tended to have significant effects if governments have embarked on big structural reforms, interfered with monetary policy or... 7th December 2023 · 25 mins read
Global Economics Focus Government debt sustainability back under the spotlight Shifts in the long-term outlook for interest rates relative to GDP growth have left the fiscal position in most developed economies looking more precarious. Unless governments manage to reduce their... 21st November 2023 · 23 mins read
Global Economics Focus The shape of the fractured world economy in 2024 Our expanded Global Fracturing database allows clients to analyse how geopolitical pressures are reshaping global economic and financial activity. Here, we highlight some of the key findings. 16th November 2023 · 10 mins read
Global Economics Focus Chapter 4: Financial market implications Higher real and nominal Treasury yields in 2030, relative to the past decade, are one reason why we expect investors to be demanding a greater real return from risky assets in 2030 than they are now. 17th October 2023 · 0 mins read
