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.

China Steps Up Monetary Support, But Not a Game Changer

China's Serial Rate Cuts: What are Them and are They Effective in Reviving the Falling Economy

Outlook Overview: How Far Are the Rate Cuts?

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>The People's Bank of China (PBoC) is studying the efficacy of buying and selling government bonds in the secondary market for liquidity management as opposed to introducing quantitative easing (QE).</li>
<li>China's government bond market has increased significantly in size since 2008, but the PBoC has not, unlike the Fed, bought sovereign debt in over two decades.</li>
<li>Monetary policy conduct could be streamlined as the number of policy benchmark lending rates is reduced. Hopes of aggressive QE by the PBoC are far-fetched given its balance sheet structure.</li>
</ul>


The People's Bank of China (PBoC) is studying the efficacy of buying and selling government bonds in the secondary market for liquidity management as opposed to introducing quantitative easing (QE).
China's government bond market has increased significantly in size since 2008, but the PBoC has not, unlike the Fed, bought sovereign debt in over two decades.
Monetary policy conduct could be streamlined as the number of policy benchmark lending rates is reduced. Hopes of aggressive QE by the PBoC are far-fetched given its balance sheet structure.


PBoC Examines Overhaul of Monetary Policy Framework, but Quantitative Easing Appears Unlikely