Macro

Find the latest macro analysis and insights

Prices palooza
  • 11 Sep 2026

It is a sad comment on the quality of communication by the US central bank that a single US consumer price inflation number can have so much sway over policy expectations.

Reserved reserves
  • 11 Sep 2026

News that the Dutch central bank has headed for the exit of the New York Federal Reserve with as much gold as it could carry has revived questions about the US dollar's reserve role.

2026 US midterm elections
  • 11 Sep 2026

US President Trump's approval rating is among the lowest for a sitting president in post-WWII history, leaving 80% probability that the US House will shift to Democratic control.

By UBP In Macro
Why Thailand's Industrial Real Estate Can't Keep Up with Its Own Ambitions
  • 11 Sep 2026

Barely a week goes by without a government announcement positioning Thailand as the next hub for data centers, semiconductor manufacturing or AI supply chain infrastructure. The ambition is consist...

Today's supply shocks are changing the game
  • 11 Sep 2026

Supply shocks may no longer be a temporary disruption. As they become more frequent and entrenched, the risk of second-round effects, where higher costs spill over into broader inflation, is rising...

US Perspectives: Moderna – the next act
  • 11 Sep 2026

Could personalised mRNA treatment give Moderna a durable second act beyond Covid?

The week in markets: The return of $100 oil
  • 11 Sep 2026

With oil prices breaching $100 per barrel, investors spent the week assessing whether inflation, bond yields and interest rates might stay higher for longer.

Protecting retirement income from inflation
  • 10 Sep 2026

A critical factor in setting a successful retirement income strategy is managing inflation risk.

Beyond Sovereigns—Norway’s Oil Fund Makes Our MBS Case
  • 10 Sep 2026

Norway’s sovereign wealth fund proposes shifting roughly $80 billion from US Treasuries into agency mortgage-backed securities (MBS), adding weight to the case for MBS in reserve portfolios.