DeSaque Macro Research

DeSaque Macro Research

Multi-Asset Macroeconomics Thematic (Sector/Industry)
bearishCross Asset Strategy02 Oct 2023 13:44

Testing Times Loom for US Treasury Market Functionality with Potential Global Consequences

US Treasuries face market functionality issues. Leveraged hedge funds filled the void of primary dealers in trading with counterparties. Sudden...

bearishCross Asset Strategy24 Sep 2023 13:49

BoJ Risks Major Credibility Test, While Fed and ECB Send Different Signals About Peak Rates

The BoJ's credibility will be tested in 2024 while exiting NIRP and YCC due to political pressure  Meanwhile, both the ECB and Fed are at or close...

bullishMacroeconomics17 Sep 2023 16:42

No Signs of Major Dollar Deleveraging, but Fed Policy Conduct and Inflation Backdrop Warrant Caution

Higher US interest rates have yet to cause major dollar deleveraging. Fed policy conduct and inflation outcomes will determine if gradual dollar...

bearishMacroeconomics11 Sep 2023 15:18

Data Dependent Financial Markets Risk Losing Sight of Bigger Issues

Central bank policy conduct and financial markets are slaves to data dependency, adversely impacting capital allocation. Economic outlooks vary by...

bearishMacroeconomics03 Sep 2023 16:48

Fed Policy Outlook: Could Housing's Resilience Force a Higher Inflation Target?

US housing activity has been resilient due to supply and demand forces. Further home price appreciation could impact Fed policy, potentially...