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.
Recent Research Examples
This was a healthy jobs report by most measures, and a read through of the unemployment data indicates the same. All of the increase in unemployment (household survey) came from a rise in people quitting their jobs and reentrants to the workforce – signs of strong positive sentiment in the jobs market.READ ME
June’s MPC meeting delivered no surprises, but the debate within the Committee is becoming more nuanced. A closer look at the minutes reveals early signs of a rift between 1) those members on alert for imminent signs of broadening and persistent underlying inflationary pressures; and 2) those pointing to the merits of waiting to see what labour market slack will look like once the furlough scheme and other government support measures get withdrawn.READ ME
There was a time when China’s credit impulse was the most important piece of data in global macro. For almost a decade, the country has been locked in a stop-go policy pattern, with every oscillation in China’s domestic monetary/fiscal stance eventually producing powerful swings in the broader global industrial cycle.READ ME
Amid all the worried comments about how action on climate change is too little and too late, there is the possibility that its economic effects may save the world economy. What have we had for the past 40 years, since Thatcher/Reagan in 1979-80?READ ME
Our Global Macro team
Charles DumasShow Profile
Larry BrainardShow Profile
Steven BlitzShow 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.