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.

Hawkish Fed in 2022: Boosting the Importance of Stock Picking as Valuations Receive Less Support

Fed’s Hawkish Pivot: Heavily Dependent on Economic Outcomes Matching Forecasts

Fed's Inflation Credibility: Facing the Sternest of Tests in 2022 as Inflationary Psychology Rises

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Elevated inflation makes it impossible for the Fed to ease to alleviate turbulence in the equity market. Equity valuations have borne the brunt of the latest taper tantrum.</li>
<li>Current economic conditions are similar to 1984 when the Fed commenced a short tightening cycle by initially raising the federal funds rate by 50 basis points .</li>
<li>The flattening yield curve raises concerns about potential inversion that has presaged recessions. Access to credit in the banking system has not tightened, despite fears of higher future funding costs.    </li>
</ul>


Elevated inflation makes it impossible for the Fed to ease to alleviate turbulence in the equity market. Equity valuations have borne the brunt of the latest taper tantrum.
Current economic conditions are similar to 1984 when the Fed commenced a short tightening cycle by initially raising the federal funds rate by 50 basis points .
The flattening yield curve raises concerns about potential inversion that has presaged recessions. Access to credit in the banking system has not tightened, despite fears of higher future funding costs.    


Latest Taper Tantrum Primarily Hits Equity Valuations as Bank Lending Remains Supportive for Growth