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.

Fed Policy Outlook: Higher for Longer Proves More Durable Than Expected, but US Equities Don't Care

Future Fed Policy Conduct: Time to Eradicate the Secular Stagnation Thesis

Goodbye to Ultra-Low US Short-Term Interest Rates? Financial Markets Well Ahead of the Fed

US Political Backdrop Raises Risks of Fiscal and Monetary Policies Reflating the Economy

Liquidity Outlook Supportive for Risky Assets as Stubborn Yield Curve Inversion Requires Resolution

Fed Policy Pivot: Forerunner to Further Capitulation in the Great Game of Chicken?

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Resilient US consumer spending has defied the predictions of doomsayers over the years, including the post-pandemic period when the saving rate fell from elevated levels back to normal.</li>
<li>High-End household consumption trends have been supported by rising asset prices, particularly US equities, while there is no evidence of equity release from owner-occupied housing being a major factor.</li>
<li>Falling interest rates in 2024 and adequate banking system liquidity will boost housing and related consumer spending, thereby suggesting that faster economic growth could underpin higher corporate profit expectations.</li>
</ul>


Resilient US consumer spending has defied the predictions of doomsayers over the years, including the post-pandemic period when the saving rate fell from elevated levels back to normal.
High-End household consumption trends have been supported by rising asset prices, particularly US equities, while there is no evidence of equity release from owner-occupied housing being a major factor.
Falling interest rates in 2024 and adequate banking system liquidity will boost housing and related consumer spending, thereby suggesting that faster economic growth could underpin higher corporate profit expectations.


The Case for Faster US Economic Growth Underpinned by Resilient Consumers