Chief Economist, Heteronomics

Phil Rush

Philip Rush is the Founder and Chief Economist of Heteronomics. Until launching in November 2016, he was Nomura's Senior European Economist and was the Chief UK Economist there since 2010. Before that, he was UK Economist at Barclays Wealth, where he also developed strategic asset allocation models for their market return portfolios. Philip started his career at Lehman Brothers covering the UK, Scandinavian and Swiss economies. A book on his fundamental framework was published in January 2018 as "Real Market Economics".

Chief Economist

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul>
<li>The latest spike in commodity prices has been supported by an upswing in global growth, as vaccination programmes have rolled out in the developed world and economies have reopened. </li>
<li>Even quite pronounced cycles in commodity prices should not affect the path of consumer price inflation over the medium term, as long as inflation expectations remain stable.</li>
<li>We see momentum in the global economy slowing in H2. Combined with a shift in consumption patterns towards services, this should take some of the heat out of commodity demand in H2.</li>
</ul>


The latest spike in commodity prices has been supported by an upswing in global growth, as vaccination programmes have rolled out in the developed world and economies have reopened. 
Even quite pronounced cycles in commodity prices should not affect the path of consumer price inflation over the medium term, as long as inflation expectations remain stable.
We see momentum in the global economy slowing in H2. Combined with a shift in consumption patterns towards services, this should take some of the heat out of commodity demand in H2.


Commodity Prices Cycling Around