Macro

Find the latest macro analysis and insights

US Stocks: Margin Math Tests the Earnings Story
  • 24 Jul 2026

The S&P 500 is heading for a bumper earnings year, but what’s been driving the growth?  US earnings are set to grow briskly in 2026, but much of the expected gains are being driven by expanding pro...

Middle East conflict: The oil shock risk is back
  • 24 Jul 2026

Tensions in the Middle East have escalated once again, with daily exchanges of strikes between Iran and US assets in the region.

Why Now Emerging Markets
  • 24 Jul 2026

Moving from the edge to the centre of the global economy. Templeton Global Investments suggests emerging markets are driving global growth but remains overlooked by investors.

ECB: On hold, but a September hike likely if things don’t improve
  • 24 Jul 2026

The European Central Bank (ECB) has kept the deposit rate unchanged at 2.25%, after hiking in June. The decision was unanimous, although according to ECB President Christine Lagarde, some members...

Global Equity ETF Commentary
  • 24 Jul 2026

1. Source: FactSet; data as of June 30, 2026. 2. Source: FactSet; data as of June 30, 2026. 3. Source: Bloomberg, Federal Reserve, Goldman Sachs; data as of June 30, 2026. 4. Source: Federal Reserv...

Escalation and Energy Prices
  • 24 Jul 2026

This round of US-Iran hostilities comes with more upside risk to energy prices than previous rounds.

Rebuilding Venezuela
  • 24 Jul 2026

Following political change and economic reforms, Venezuela’s recovery was disrupted by devastating earthquakes, worsening fiscal and debt challenges. Ryan Boyle explains.

Economics Weekly: Why Wait?
  • 24 Jul 2026

In this Economics Weekly, Richard de Chazal discusses several reasons the Fed could decide to pull the trigger next week and not wait until September.

Capital Preservation Matters: Why stable value is critical in retirement plan menus
  • 23 Jul 2026

In a higher-rate, inflation-uncertain environment, stable value funds can serve as a critical retirement plan capital preservation option by combining principal stability with the potential for inf...