Macro

Find the latest macro analysis and insights

The week in markets
  • 24 Apr 2026

A turbulent week in markets as oil surged back above $100, inflation fears reignited, and markets whipsawed between escalation risk and uneasy calm.

Budget 26: what to expect
  • 24 Apr 2026

Three themes — spanning the short, medium and long terms — are likely to underpin the...

By ANZ In Macro
Balancing Act Monthly Insights: Global Multi-Asset (April 2026)
  • 24 Apr 2026

We downgraded growth assets to underweight and increased our underweight defensive score. Although we initially expected improving global growth and strong earnings to support equities, the Iran co...

The role of asset-backed securities in pension scheme LDI portfolios
  • 24 Apr 2026

The US securitised credit market has demonstrated strong risk-adjusted return outcomes, often decorrelated to traditional fixed income assets.

From Washington to the World: Iran, Energy and US Policy
  • 24 Apr 2026

John Studzinski, PIMCO Vice Chairman, speaks with Libby Cantrill, PIMCO’s head of public policy, to get the view from Washington on the big topics of the moment. Together they explore what might co...

Bank Tailwind Retreat, Thesis Intact
  • 24 Apr 2026

Banks have pulled back on Fed and geopolitical uncertainty, but M&A potential and regional strength continue to support selective opportunities.

Small Cap, Big Impact
  • 24 Apr 2026

From harbor dredging to niche industrial leaders, small-cap companies can offer differentiated, resilient growth opportunities tied to essential infrastructure rather than broader macro cycles.

Market Flash - The cyclops effect: Markets are tempted to view events from one angle only
  • 24 Apr 2026

•    The rebound in risk assets following tensions in the Middle East is more a case of technical repositioning, rather than an improvement in fundamentals. It illustrates a market reflex that has...

Economics Weekly: Capacity Growth—It’s Different This Time
  • 24 Apr 2026

In this Economics Weekly, Richard de Chazal looks at aggregate investment spending and the expansion in industrial capacity; he also compares the current cycle with the 1990s and discusses what tho...