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 Services

Our macroeconomic research expertise underpins all of our three research services: Global Macro, China and Global EMs and Global Strategy.

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

Macro Research
11 May 2021

UnlockEuro Area: Ready for lift-off

A few weeks ago Euro Area (EA) governments started laying out plans for gradual reopening at differentiated paces: first, Italy and Spain, favoured by warmer weather and falling new cases, followed by France from mid-May, despite still elevated hospitalizations, and finally Germany, which is dealing with a third virulent wave.

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Macro Research
13 Apr 2021

UnlockDo consumers ever borrow again?

If the coming expansion is to be different from the last one, consumers will boost their borrowing relative to income – and there is good reason to believe they will. If they do, real growth gets a lift and so too cyclical inflation, but an inflationary cycle such as a repeat of the1970s remains farfetched. 

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Decarbonomics
22 Apr 2021

UnlockBiden's climate summit is more than meets the eye

The US' high-profile return to global climate stage will be beefed up by Biden's "whole of government" approach.

 

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Macro Research
01 Apr 2021

UnlockNot just Tesla: "Great power" rivalry remaps the future of cars

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. 

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Our Global Macro team

Chief Economist
Charles Dumas, Chief Economist, Macro Thought Leader

Charles Dumas

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Chief EM Economist
Lawrence Brainard, Chief EM Economist, Macro Thought Leader

Larry Brainard

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Chief US Economist
Steven Blitz, Chief US Economist, Macro Thought Leader

Steven Blitz

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Chief China Economist
Bo Zhuang, Chief China Economist, Macro Thought Leader

Bo Zhuang

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MD, Global Macro
Dario Perkins, Global Macro Thought Leader

Dario Perkins

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MD, Global Macro
Shweta Singh, Global Macro Thought Leader

Shweta Singh

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Senior Economist
Konstantinos Venetis, Macroeconomic analyst

Konstantinos Venetis

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Senior Analyst, India
Shumita Sharma Deveshwar, Macroeconomic analyst, India

Shumita Sharma Deveshwar

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Senior Economist, Europe
Davide Oneglia, Macroeconomic analyst, Europe

Davide Oneglia

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Analyst, Russia
Madina Khrustaleva, Macroeconomic analyst, Russia

Madina Khrustaleva

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Economist, China
Rory Green-3

Rory Green

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Analyst, Brazil
Wilson Ferrarezi, Macroeconomic analyst, Brazil

Wilson Ferrarezi

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Analyst, South East Asia
Krzysztof Halladin, Macroeconomic analyst, S.E. Asia

Krzysztof Halladin

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GEOPOLITICS

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.

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INVESTMENT STRATEGY

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.

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