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.

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

Bond market fears about the recessionary impact of protectionism, as testified by further US Treasury yield curve inversion, has spread to US equities, although the Federal Open Market Committee (FOMC) has yet to embrace this pessimistic outlook.
Meanwhile, the looming threat of 5% US tariffs being imposed on Mexican imports could impart significant headwinds to the US automotive sector, given that post-Great Recession sales appear to have peaked.
The widening of President Trump's trade assaults raises downside US economic risks, via corporate risk aversion, as well as reducing the prospects of a trade deal being reached with China in the near term.
Close attention will be paid by the FOMC to incoming employment data, particularly weekly initial unemployment claims, to assess if ongoing trade disputes are adversely impacting labour demand.
The Fed is unlikely to repeat its 1990 policy mistake of delaying cutting the federal funds rate due to fears of rising inflationary expectations in the wake of a supply-side shock, because inflation is currently below desired levels.

Bond market fears about the recessionary impact of protectionism, as testified by further US Treasury yield curve inversion, has spread to US equities, although the Federal Open Market Committee (FOMC) has yet to embrace this pessimistic outlook.
Meanwhile, the looming threat of 5% US tariffs being imposed on Mexican imports could impart significant headwinds to the US automotive sector, given that post-Great Recession sales appear to have peaked.
The widening of President Trump's trade assaults raises downside US economic risks, via corporate risk aversion, as well as reducing the prospects of a trade deal being reached with China in the near term.
Close attention will be paid by the FOMC to incoming employment data, particularly weekly initial unemployment claims, to assess if ongoing trade disputes are adversely impacting labour demand.
The Fed is unlikely to repeat its 1990 policy mistake of delaying cutting the federal funds rate due to fears of rising inflationary expectations in the wake of a supply-side shock, because inflation is currently below desired levels.

Pressure Builds on Fed as US Treasuries and Equities Fear Trade-Induced Recession