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

<ul><li>Central bank decisions came as expected with cuts or cautious progress towards them, but the Bank of England's unexpected guidance disrupted predictions and market pricing. An August cut is now anticipated, though there are concerns it could be a mistake.</li><li>Next week, macro data is expected to drive the market more, with US inflation data due on Wednesday, UK labour market data on Tuesday, and ongoing updates on HICP, GDP, and employment around the Euro Area.</li><li>The only notable rate decision expected is from the Philippines.</li></ul>

Central bank decisions came as expected with cuts or cautious progress towards them, but the Bank of England's unexpected guidance disrupted predictions and market pricing. An August cut is now anticipated, though there are concerns it could be a mistake.Next week, macro data is expected to drive the market more, with US inflation data due on Wednesday, UK labour market data on Tuesday, and ongoing updates on HICP, GDP, and employment around the Euro Area.The only notable rate decision expected is from the Philippines.

HEW: BoE Lunges Hopefully After ECB