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.

Controlling US Financial Conditions: Looming Battle Between the Fed and Treasury

The Fate of Quantitative Tightening: Not Solely in the Hands of the Fed

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Cross Asset Strategy

<ul>
<li>Since the suspension of the debt ceiling last June, federal debt has been increasing at a very rapid rate, an outcome that could eventually have implications for US financial conditions.</li>
<li>High issuance of T-bills by the Treasury to the public will drain bank reserves, thereby raising the ante on the Fed to make offsetting open-market purchases to reduce liquidity stress.</li>
<li>The biggest threat to US risky assets is an undershooting of corporate profit expectations. Fiscal policy conduct is supportive for economic growth and profits, as well as risky asset prices.  </li>
</ul>


Since the suspension of the debt ceiling last June, federal debt has been increasing at a very rapid rate, an outcome that could eventually have implications for US financial conditions.
High issuance of T-bills by the Treasury to the public will drain bank reserves, thereby raising the ante on the Fed to make offsetting open-market purchases to reduce liquidity stress.
The biggest threat to US risky assets is an undershooting of corporate profit expectations. Fiscal policy conduct is supportive for economic growth and profits, as well as risky asset prices.  


Spendthrift US Fiscal Policy Raises Ante on Fed to Prevent Financial System Liquidity Squeeze