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

<ul>
<li>The inexperience of the current generation of central bankers towards fighting inflation was brutally exposed in 2022, but financial markets have been reluctant to punish them in an overly-harsh manner. </li>
<li>The extended period of global monetary accommodation had negative consequences for banking profitability, particularly in the Eurozone and Japan, but ending cheap money will have different outcomes across regions.</li>
<li>Tighter monetary policies in the Asia Pacific region and softening external demand mean that banking systems could face asset quality concerns when profitability has not fully recovered to pre-pandemic levels. </li>
</ul>


The inexperience of the current generation of central bankers towards fighting inflation was brutally exposed in 2022, but financial markets have been reluctant to punish them in an overly-harsh manner. 
The extended period of global monetary accommodation had negative consequences for banking profitability, particularly in the Eurozone and Japan, but ending cheap money will have different outcomes across regions.
Tighter monetary policies in the Asia Pacific region and softening external demand mean that banking systems could face asset quality concerns when profitability has not fully recovered to pre-pandemic levels. 


The End of Cheap Money: Banking Systems Face Varying Challenges