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.

Rush to Normalise Fed Policy Settings Raises Questions Over US Corporate Profits Outlook

Fed Still Playing Catch-Up By Relying on Policy Gradualism to Tame Inflation

Geopolitics Raises Risks of Fed Policy Error as Sanctions Fallout Threaten Global Inflation

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>The future trajectory of US Treasury yields depends on investors' perceptions whether the Fed has taken the necessary steps to quell inflation. Significant quantitative tightening will not occur until September. </li>
<li>The Fed engineered lower real yields over the past forty years, albeit at varying speeds. Lower real yields since 2008 have boosted leverage in the corporate and federal government sectors. </li>
<li>US equities are facing the perfect storm in the form of rising interest rates and uncertainty about the economic and corporate profit outlooks. Investors are not trusting corporate profit forecasts.</li>
</ul>


The future trajectory of US Treasury yields depends on investors' perceptions whether the Fed has taken the necessary steps to quell inflation. Significant quantitative tightening will not occur until September. 
The Fed engineered lower real yields over the past forty years, albeit at varying speeds. Lower real yields since 2008 have boosted leverage in the corporate and federal government sectors. 
US equities are facing the perfect storm in the form of rising interest rates and uncertainty about the economic and corporate profit outlooks. Investors are not trusting corporate profit forecasts.


Angst of Rising Real Interest Rates Haunts US Financial Markets as Profit Forecasts Fail to Impress