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.

Is the Fed Deliberately Engineering A Recession?

‘Stealth QE’ Continues At The Fed ... Probably

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Cross Asset Strategy

<ul>
<li>Historically, US equities have frequently displayed a tendency to become disconnected from the real economy, but the order of magnitude since the global financial crisis is unprecedented. </li>
<li>Higher equity valuations will be under threat if the Fed is forced to further alter forward guidance in a hawkish manner due to sticky inflation.</li>
<li>Fed Chair Powell received no political pushback at his semi-annual Congressional testimony on monetary policy to raising interest rates further if necessary.</li>
</ul>


Historically, US equities have frequently displayed a tendency to become disconnected from the real economy, but the order of magnitude since the global financial crisis is unprecedented. 
Higher equity valuations will be under threat if the Fed is forced to further alter forward guidance in a hawkish manner due to sticky inflation.
Fed Chair Powell received no political pushback at his semi-annual Congressional testimony on monetary policy to raising interest rates further if necessary.


US Equities and the Real Economy: Large Disconnect Vulnerable to Prolonged Hawkish Fed Policy Stance