Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

Supportive Backdrop for US Equities, but the Events of 2000 Pose a Warning Against Complacency

US Treasury Market Questions Fed's Prospective Policy Path

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>The Fed has begun its easing cycle with an aggressive 50 basis points reduction in its policy rate, but, thereafter, conduct will remain data dependent.</li>
<li>Lower-Income household stress has become increasingly evident over the past year, particularly in subprime auto loans and credit cards. Lenders have tightened lending standards and accepted higher bad debt charge-offs. </li>
<li>Lower-Income households will benefit more directly from the Fed's policy shift due to their higher exposure to liabilities priced off short-term interest rates.</li>
</ul>


The Fed has begun its easing cycle with an aggressive 50 basis points reduction in its policy rate, but, thereafter, conduct will remain data dependent.
Lower-Income household stress has become increasingly evident over the past year, particularly in subprime auto loans and credit cards. Lenders have tightened lending standards and accepted higher bad debt charge-offs. 
Lower-Income households will benefit more directly from the Fed's policy shift due to their higher exposure to liabilities priced off short-term interest rates.


Aggressive Start to Fed Policy Easing Cycle Aimed at Reducing Stress at Low Income Consumers?