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.

Q1 USD Low to Front Run Q2 EEM Correction

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

FX & Rates

Exchange Rates: Determined By Numerous Forms of Capital FlowsCurrent account balances necessitate a one-way offsetting capital flow of equal magnitude to prevent exchange rate fluctuations. The components of capital flows are, however, not homogenous in their behaviour. Consequently, the financial media often falls into the trap of solely stressing the perceived power of interest rate differentials in driving aggregate capital flows and, therefore, exchange rates. The reality is, however, that…

Exchange Rates: Determined By Numerous Forms of Capital FlowsCurrent account balances necessitate a one-way offsetting capital flow of equal magnitude to prevent exchange rate fluctuations. The components of capital flows are, however, not homogenous in their behaviour. Consequently, the financial media often falls into the trap of solely stressing the perceived power of interest rate differentials in driving aggregate capital flows and, therefore, exchange rates. The reality is, however, that…

US/Euro Exchange Rate: When "Hot Money" Becomes Over-Hyped