Chief Economist, Heteronomics

Phil Rush

Chief Economist

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul>
<li>The UK’s services PMI stretched its recovery near to the heights hit around the last BoE rate hike. It also suggests strength beyond what I pencil into my Q2 GDP forecast (0.4% q-o-q), although I remain wary of the lousy correlation.</li>
<li>Once again, all three UK PMIs beat consensus expectations to resume its trend pace of growth, which also supports the MPC resuming its hiking cycle in August. The concerns encouraging a delay in May appear broadly resolved, in my view.</li>
</ul>The recovery in the services…


The UK’s services PMI stretched its recovery near to the heights hit around the last BoE rate hike. It also suggests strength beyond what I pencil into my Q2 GDP forecast (0.4% q-o-q), although I remain wary of the lousy correlation.
Once again, all three UK PMIs beat consensus expectations to resume its trend pace of growth, which also supports the MPC resuming its hiking cycle in August. The concerns encouraging a delay in May appear broadly resolved, in my view.
The recovery in the services…

FLASH: UK PMI Surprises Support August Hike

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

REAL-Economics.com

Thematic (Sector/Industry)

With Michel Barnier and Jeremy Corbyn largely aligned on the idea of keeping the UK in the customs union, Prime Minister May's only options are to resile, resign or seek re-election (i.e., call yet another one). Corbyn is actually proposing that the UK stay in the EFTA, but that is a marginal difference that the EU will be happy to negotiate over. To resile (as she did within a few days in December 2017, albeit with a marginal change of language) appears her best option. If she agrees to some…

With Michel Barnier and Jeremy Corbyn largely aligned on the idea of keeping the UK in the customs union, Prime Minister May's only options are to resile, resign or seek re-election (i.e., call yet another one). Corbyn is actually proposing that the UK stay in the EFTA, but that is a marginal difference that the EU will be happy to negotiate over. To resile (as she did within a few days in December 2017, albeit with a marginal change of language) appears her best option. If she agrees to some…

May (& A United Kingdom) On Thin Ice as Corbyn and Barnier Set Out Their Customs Union Stall

United Kingdom

SPDR FTSE UK All Share ETF is an open ended, UCITS IV compliant exchange traded fund, domiciled in Ireland. The fund's objective is to track the performance of FTSE All Share Index. The Fund invests in physical securities in the index.

SPDR FTSE UK All Share (FTAL LN)

FLASH: UK PMI Surprises Support August Hike

The UK’s services PMI stretched its recovery near to the heights hit around the last BoE rate hike. It also suggests strength beyond what I pencil...

Phil Rush

May (& A United Kingdom) On Thin Ice as Corbyn and Barnier Set Out Their Customs Union Stall

With Michel Barnier and Jeremy Corbyn largely aligned on the idea of keeping the UK in the customs union, Prime Minister May's only options are to...

Prasenjit K. Basu