TS Lombard

TS Lombard is a globally renowned independent research provider with a formidable 30 year track record in providing actionable investment ideas driven by unique understanding of economics, politics and markets. Our economic and political analysis drives our asset allocation recommendations which are both strategic and tactical. We also provide thematic equity calls through TS Lombard Research Partners. TS Lombard was formed through the merger of Lombard Street Research and Trusted Sources in August 2016. The merger has brought together two of the leading, and longest established, IRPs to create a unique offering combining best-in-breed macroeconomic forecasting and political and policy analysis. The group has a team of 25 analysts and strategists across offices in London, New York, Hong Kong, Beijing, Sao Paulo and New Delhi.

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ECONOMICS

Through our analysis of the forces that drive economics at the global, regional and country level, we have a joined-up picture of the world economy and a deeper understanding of the countries that investors care about. This gives us a unique perspective that allows us to present courageous, fresh, long-term thinking and forecasting with high conviction.

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POLITICS

With political drivers and government policy playing an increasingly significant role in determining economic and market outcomes, our world-wide team of political analysts are able to provide critical, timely insights into political shocks and policy developments that will influence investment performance – both regionally and globally.

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MARKETS

Using the wealth of macro economic, policy, and global political insight at our disposal, our team of strategists are able to provide actionable, unbiased advice on asset allocation, investment positioning and portfolio risk management.

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Sample Research

29 Jul 2019 - Jon Harrison

EM Watch: Not bottoming out

Global: Trade remains an underlying drag
China: Inventory liquidation to hit growth
Brazil: Weak economy weighing on fiscal
India: Fiscal credibility increasingly in question
Russia: The CBR’s cautious easing explained
Thailand: No export recovery in Q3/19
Turkey: Stagnant growth drives rate cut
Strategy: India: 10yr USD bond spread 90-110bp

23 Jul 2019 - Constantine Fraser

Daily Note: Boris: The key question

Most Brexit commentary is too focused on parliamentary arithmetic
As long as Johnson prefers a deal to no-deal, the latter is all but ruled out
A modified Withdrawal Agreement will resurface as the Boris Bargain

18 Jul 2019 - Dario Perkins

Macro Picture: Debt trapped

Global debt ratios have continued to rise over the past decade, as low interest rates kept the world growing in spite of secular economic weakness. After a brief market panic in 2018, the prospect of renewed central bank easing has supported sentiment and re-ignited the search for yield. But where is the balance sheet to ‘reflate’ global demand?

05 Jul 2019 - Bo Zhuang

Daily Note: Weaponizing the yuan

USDCNY breaking 7 is a form of retaliation for “bad faith” negotiations
The yuan will devalue another 3% in August and could break 7.5 in 2020 if all tariffs on Chinese imports increase to 25%
Capital outflows will likely be capped below US$100bn per month

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