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.

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Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>US equities have struggled to maintain the strong gains from 2024 due to bearish retail sentiment and poor performance of market leaders. Softer US economic data has also undermined sentiment.</li>
<li>US tariffs will be disruptive to the global economy.  Their impact on Europe is amplified by geopolitical tensions, while US core inflation trends will impact Fed policy conduct.</li>
<li>Foreign central banks will ease their respective policy rates due to the imposition of US tariffs, while the exact magnitude of easing will be determined by their severity and timing.</li>
</ul>


US equities have struggled to maintain the strong gains from 2024 due to bearish retail sentiment and poor performance of market leaders. Softer US economic data has also undermined sentiment.
US tariffs will be disruptive to the global economy.  Their impact on Europe is amplified by geopolitical tensions, while US core inflation trends will impact Fed policy conduct.
Foreign central banks will ease their respective policy rates due to the imposition of US tariffs, while the exact magnitude of easing will be determined by their severity and timing.


US Tariff Uncertainty Will Be Prolonged, but Markets Expect Easier Global Monetary Policy