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.

US Banks' Commercial Real Estate Exposure: Not the Same as 2008

US Bank Deposits and the Real Economy: More Complex than Commonly Perceived

Fed's Inflation Fight: Upended by Banking System Concerns?

Fed Holds Its Nerve, but Banking System Liquidity Issues Persist

Fed Policy Outlook: Quantitative Tightening Programme Facing Tough Challenges in 2023

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>High losses on banks' mortgage backed securities (MBS) portfolios are not due to degrading credit quality, but rising interest rates and high inflation that could impact bank lending standards.</li>
<li>Swift action by the Fed and Treasury to guarantee all bank deposits should limit the economic fallout stemming from recent events in the banking system.</li>
<li>The Fed's balance sheet will be deployed to ensure future financial stability, while the federal funds rate will be the chosen tool to fight inflation.</li>
</ul>


High losses on banks' mortgage backed securities (MBS) portfolios are not due to degrading credit quality, but rising interest rates and high inflation that could impact bank lending standards.
Swift action by the Fed and Treasury to guarantee all bank deposits should limit the economic fallout stemming from recent events in the banking system.
The Fed's balance sheet will be deployed to ensure future financial stability, while the federal funds rate will be the chosen tool to fight inflation.


US Banking System: Repeat of 2008 Unlikely as Fed Separates Balance Sheet from Interest Rate Policy