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.

Calm Before the Currency War? Central Banks Go Their Separate Ways

Bank of Japan Policy Outlook Complicated by Fiscal Stimulus and Past Policy Legacies

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Policy uncertainty still remains elevated despite the China-US tariff truce. Tariffs have created new easing agendas for central banks, while the Fed awaits new incoming economic information. </li>
<li>US tariffs threats have forced the Bank of Japan (BoJ) to pause policy normalisation plans. Japanese government bond market stress may increase once the BoJ resumes raising its policy rate.</li>
<li>Governments and central banks are facing legacy issues from the period of combined easy monetary and fiscal policy stances as bond markets question sovereign governments’ capacity to borrow.</li>
</ul>


Policy uncertainty still remains elevated despite the China-US tariff truce. Tariffs have created new easing agendas for central banks, while the Fed awaits new incoming economic information. 
US tariffs threats have forced the Bank of Japan (BoJ) to pause policy normalisation plans. Japanese government bond market stress may increase once the BoJ resumes raising its policy rate.
Governments and central banks are facing legacy issues from the period of combined easy monetary and fiscal policy stances as bond markets question sovereign governments’ capacity to borrow.


Tariffs Create New Central Bank Agendas, While Bank of Japan Faces Fiscal Policy Nightmare