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.

US Banks - Added $122bn Cash In Past 2 Weeks | Loans up $31bn | CRE Loans Down | Deposits up $113bn

US Large Banks - New B/S Data: CRE Craters, MBS Sharp Decline, LLR & Big Fixed Deposits Up+, SE Flat

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Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Lack of existing homes for sale has supported the demand for new homes where homebuilders have assisted buyers via mortgage rate buy downs.</li>
<li>House price appreciation has resumed again, despite tougher comparisons, thereby helping to support aggregate demand.  Future disinflation could spark swiftly declining borrowing costs, thereby complicating policy conduct for the Fed.</li>
<li>Further home price appreciation could undermine the Fed's efforts to achieve 2% inflation, but political pressure to raise the target could increase in order to maximise full employment and homeownership. </li>
</ul>


Lack of existing homes for sale has supported the demand for new homes where homebuilders have assisted buyers via mortgage rate buy downs.
House price appreciation has resumed again, despite tougher comparisons, thereby helping to support aggregate demand.  Future disinflation could spark swiftly declining borrowing costs, thereby complicating policy conduct for the Fed.
Further home price appreciation could undermine the Fed's efforts to achieve 2% inflation, but political pressure to raise the target could increase in order to maximise full employment and homeownership. 


Fed Policy Outlook: Could Housing's Resilience Force a Higher Inflation Target?