Chief Economist, Heteronomics

Phil Rush

Philip Rush is the Founder and Chief Economist of Heteronomics. Until launching in November 2016, he was Nomura's Senior European Economist and was the Chief UK Economist there since 2010. Before that, he was UK Economist at Barclays Wealth, where he also developed strategic asset allocation models for their market return portfolios. Philip started his career at Lehman Brothers covering the UK, Scandinavian and Swiss economies. A book on his fundamental framework was published in January 2018 as "Real Market Economics".

Chief Economist

FLASH: UK Nov-18 Inflation Slows as Expected

UK Preview: Disinflationary Date for Dec-18

Preview: UK Oct-18 Inflation and Q3 Labour Market

UK Cycle: UR Rise in Sep-18 Is Not Disinflationary

FLASH: Disinflationary UK Surprise in Sep-18

BoE: Hiking Threshold Conditionally Met for Feb-19

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul><li><em>UK inflation disappointed again in Oct-18 as it remained at 2.4% on the CPI and 3.3% on the RPI. Food, clothing and sea fares drove the surprise, at least for me. Most of the weakness persists in my forecast.</em></li></ul>

UK inflation disappointed again in Oct-18 as it remained at 2.4% on the CPI and 3.3% on the RPI. Food, clothing and sea fares drove the surprise, at least for me. Most of the weakness persists in my forecast.

FLASH: Surprisingly Stable UK Inflation in Oct-18