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.

Controlling US Financial Conditions: Looming Battle Between the Fed and Treasury

The Fate of Quantitative Tightening: Not Solely in the Hands of the Fed

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Cross Asset Strategy

<ul>
<li>The Fed's forward guidance remains unchanged from December. Three potential policy rate reductions in 2024. Economic growth expectations were revised upward, providing a bullish backdrop for higher corporate profit expectations. </li>
<li>The early tapering of quantitative tightening (QT) will reduce the supply of notes and bonds to private investors, thereby boosting the attraction of risky assets and further easing financial conditions. </li>
<li>Recent Bank of Japan policy changes need not be disastrous for US Treasuries, particularly as the Fed's buying capacity will soon be enhanced by the arrival of QT tapering. </li>
</ul>


The Fed's forward guidance remains unchanged from December. Three potential policy rate reductions in 2024. Economic growth expectations were revised upward, providing a bullish backdrop for higher corporate profit expectations. 
The early tapering of quantitative tightening (QT) will reduce the supply of notes and bonds to private investors, thereby boosting the attraction of risky assets and further easing financial conditions. 
Recent Bank of Japan policy changes need not be disastrous for US Treasuries, particularly as the Fed's buying capacity will soon be enhanced by the arrival of QT tapering. 


Latest Fed Policy Guidance Signals Green Light for Melt-Up in US Risky Assets