Macro

Find the latest macro analysis and insights

New Zealand Fixed Income Monthly (April 2026)
  • 20 May 2026

Given some key variables, our view is that the current data do not make a strong case for the RBNZ making a near-term move in the Official Cash Rate.

How Germany is changing the pace of sanctions compliance
  • 20 May 2026

Germany’s new sanctions rules demand real-time compliance, faster risk detection and immediate action under updated AWG regulations.

US-China summit: What a more managed and predictable relationship means for markets
  • 20 May 2026

Investor implications from the US-China summit in Beijing.

UK CPI: A temporary fall
  • 20 May 2026

Consumer Price Index (CPI) inflation in the UK was widely expected to fall in April but fell a bit more than consensus. CPI fell to 2.8% year-on-year in April from 3.3% (consensus: 3.0%...

Ahead of the Curve: Monthly Bond Market Recap and Outlook – April 2026
  • 19 May 2026

Canadian bond markets halted their advance in March, following a surge in near-term inflation expectations driven by rising energy prices amid heightened tensions in the Middle East and concerns ar...

Australian Webcast: Australian Banks – Post Reporting Season reflections
  • 19 May 2026

Andrew Martin, Co-founder and Portfolio Manager at Alphinity, discusses the latest Australian bank results amid market volatility, including the impact of the Iran war, interest rate hikes, and the...

Navigating Japan Equities: Monthly Insights from Tokyo (May 2026)
  • 19 May 2026

This month, we discuss how the TOPIX, rather than the record-setting Nikkei, may be a better gauge of “Japan Inc.”; we also analyse how recent interventions to prop up the yen can be viewed as an a...

Moving from measuring markets to measuring the real economy
  • 19 May 2026

Most global equity indices are market cap weighted. This paper introduces a GDP adjusted alternative to reduce concentration and valuation risk.

Gilt-y by association
  • 19 May 2026

Here's the latest weekly update from our investment team.