Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Alex Ng is the founder and head of research of the economic and investment research house Fortress Hill Advisors. Prior to founding Fortress Hill Advisors, he worked as an economic research analyst across government, academic, and financial institutes including the Hong Kong Financial Secretary’s Office (Office of the Government Economist), Economic Research Center of the Institute of Asia-Pacific Studies at CUHK, and State Street Global Markets. Alex holds a Master of Arts in Economics degree from Columbia University in the City of New York and a Bachelor of Arts in Economics and Mathematics from Wesleyan University (CT, USA).

Our firm's expertise lies in macroeconomics, global macro,  global thematic research, company and equity research, multi-asset strategy, event driven, and ESG.

We also do proprietary trading on the firm's capital, to try to vindicate our investment thesis. Our flagship publication, Heard from Fortress Hill (HFFH) provides our weekly market observations and is freely available on our website: https://fortresshill-advisors.com/hffh/

Founder & Head of Research

Eurozone growth despite German contraction; HICP inflation to edge lower

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<ul>
<li>Lower fuel prices will be a key factor in September’s HICP, pulling y/y rate to 1.9%, which would be lowest in three years and despite little change in services inflation.  </li>
<li>Indeed, the risk is of an even lower outcome. This may be short-lived given adverse base effects later this year before a more sustained fall below 2% occurs through 2025. </li>
<li>But the September projection is in line with ECB thinking as it leads to a Q3 outcome of 2.2%. </li>
</ul>


Lower fuel prices will be a key factor in September’s HICP, pulling y/y rate to 1.9%, which would be lowest in three years and despite little change in services inflation.  
Indeed, the risk is of an even lower outcome. This may be short-lived given adverse base effects later this year before a more sustained fall below 2% occurs through 2025. 
But the September projection is in line with ECB thinking as it leads to a Q3 outcome of 2.2%. 


Eurozone HICP Preview (Oct 1): Headline Back Below Target and Backed Up By Survey Signs