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

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

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<li><em>Germany’s general election on 26 September will see Angela Merkel replaced. The popularity of the Greens has risen this year, but the better than expected performance of the CDU/CSU party in state elections on 6 June has restored their chances.</em></li>
<li><em>At this stage, we see a CDU/CSU-led government as the most likely outcome. A more unexpected outcome would be a collapse in the CDU/CSU vote well below 30%, resulting in a Green-led coalition with other smaller parties.</em></li>
</ul>


Germany’s general election on 26 September will see Angela Merkel replaced. The popularity of the Greens has risen this year, but the better than expected performance of the CDU/CSU party in state elections on 6 June has restored their chances.
At this stage, we see a CDU/CSU-led government as the most likely outcome. A more unexpected outcome would be a collapse in the CDU/CSU vote well below 30%, resulting in a Green-led coalition with other smaller parties.


Germany: Black-Green or Green-Black?