Our three decades of experience providing independent macro research to investors underpins everything that we do at TS Lombard. We combine global macro themed and deep understanding of key countries to deliver a unique globally-consistent approach, as such our macro strategy recommendations at a regional or sector level always reflect the implications of 'big-picture' macro analysis of global themes. Unlike other researchers who specialise in a specific geography or sector, our outputs benefit from the full spectrum of knowledge from across our entire organisation, both our macroeconomic research hub in London and our local teams across the world. This allows us to understand how events or flows at the global level will impact on individual economies and investments.
We provide confident insights into shifting global macro trends, the timing of turning points and how they will unfold at regional and country level. Our analysis is based on a deeper understanding of the implications of political and economic events and the interconnectedness of the global economy.
Our Approach to Macro Research
Our research team scouts the global economy for emerging macro trends and then explores how they impact individual countries and global markets. As a company, it’s in our nature to question things and look for those places where risk and opportunity may be understated or overstated. We do this by considering the fundamental building blocks of economic forecasting – sectoral balances, financial flows, and money and credit growth. Vitally, we look at these economic drivers through the frame of our global economic, policy, and political knowledge, which is outside the range of vision of many forecasters. We also build proprietary models and processes to monitor global leading indicators, macroeconomic indicators and financial flows.
This allows us to deliver actionable, courageous views that takes the full macro picture into consideration.
Our Track Record
We take great pride in our 30 year track record of macro research and global macro strategy, and we believe that our past calls speak for themselves.
Recent Research Examples
As the global EV race fires up in a new era of US-China rivalry, the logical upshot is a decoupling of complex auto supply chains ahead. This trend will not only be self-reinforcing but accelerate as self-driving tech (AV) advances, sparking new national security risks ahead.READ ME
The “non-Covid” recession ended late summer, timed, in part, by the November peak for the number of unemployed not on temporary layoff. What we call the non-Covid recession is simply the downturn that created job losses other than the temporary ones from forced shutdowns – temporary accounted for, by far, biggest number of unemployed in this cycle.READ ME
These days, economists tend to assess monetary policy relative to some deep underlying interest rate (the “equilibrium rate”, or r*) which depends on structural forces and is largely beyond the control of central banks. Slow-moving secular shifts in demographics, technology and globalization will alter the balance between savings and investment, causing this equilibrium interest rate to move around over time.READ ME
Our Global Macro team
Charles DumasShow Profile
Larry BrainardShow Profile
Steven BlitzShow Profile
Bo ZhuangShow Profile
Dario PerkinsShow Profile
Shweta SinghShow Profile
Konstantinos VenetisShow Profile
Shumita Sharma DeveshwarShow Profile
Davide OnegliaShow Profile
Madina KhrustalevaShow Profile
Rory GreenShow Profile
Wilson FerrareziShow Profile
Krzysztof HalladinShow Profile
Shumita Sharma Deveshwar
Politics and government policy are increasingly significant macro strategy drivers, and our world-wide team of geopolitical analysts are able to provide critical, timely insights into political shocks and policy developments that will influence macroeconomic investment performance - both regionally and globally.
Using the wealth of macroeconomic and geopolitical insights at our disposal, our team of macro strategists are able to provide actionable, unbiased implications for global markets, including asset allocation, investment positioning and cross asset portfolio risk management.