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.

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Commodity prices are sensitive to monetary conditions and their upward movement after aggressive easing by the Fed from early-2020 should not have been a surprise.</li>
<li>Tight oil inventories helped to underpin rising oil prices in 2021, but gradual supply increases from OPEC + and the US should alleviate supply-demand imbalances.</li>
<li>Commodity prices should cool as the gap between aggregate demand and supply dissipates. ESG interests could still produce higher inflation by limiting the flow of capital to traditional commodity sources. </li>
</ul>


Commodity prices are sensitive to monetary conditions and their upward movement after aggressive easing by the Fed from early-2020 should not have been a surprise.
Tight oil inventories helped to underpin rising oil prices in 2021, but gradual supply increases from OPEC + and the US should alleviate supply-demand imbalances.
Commodity prices should cool as the gap between aggregate demand and supply dissipates. ESG interests could still produce higher inflation by limiting the flow of capital to traditional commodity sources. 


Elevated Commodity Prices and Stagflation: Nuanced Conditions in Play Across Different Markets