Macro

Find the latest macro analysis and insights

US-Iran Update—The Map Is Expanding
  • 15 hours ago

Western Asset: As US-Iran tensions expand across the region, drawing in additional countries and threatening key strategic waterways, geopolitical uncertainty is widening the range of possible outc...

Uncommon truths: Global Debt Review 2026
  • 15 hours ago

After a few years of decline, global debt-to-GDP ratios ticked up in 2025. Gains were concentrated in emerging economies, often from low levels (elevated ratios remain largely a developed world pro...

The Weekly Brief
  • 20 Jul 2026

The Bank of England (BoE) is in a challenging position as the UK economy battles with still-sticky inflation and questions around the growth outlook. Last week’s data showed headline inflation acce...

From policy to portfolio: investing in UK natural capital
  • 20 Jul 2026

We are always searching for opportunities to align financial and environmental outcomes. Biodiversity Net Gain legislation is one such investable opportunity, linking ecological restoration with du...

Letter from SuMi TRUST AM – Japan Outlook for the Second Half of 2026
  • 20 Jul 2026

In this article Hiroyuki Ueno, Katsutoshi Inadome and Kei Fujimoto give SuMi TRUST AM's Japan Outlook for the Second Half of 2026

US inflation eases and buys the Fed time
  • 20 Jul 2026

Better-than-expected US inflation data reduced the likelihood of a July Fed hike, while Canada's central bank stayed on hold and Japan data turned mixed.

Market Perspectives: A(nother) new dawn for the UK
  • 20 Jul 2026

The UK has a new prime minister – its seventh in just over a decade – and another opportunity to reset the country’s economic narrative.

UBP Weekly View - Cooler inflation, hotter oil: markets rotate
  • 20 Jul 2026

US inflation surprised on the downside, tempering rate-hike expectations, whilst the renewal of hostilities in the Middle East sent oil prices surging.

Old-Fashioned Bond Math for a New-Fashioned Fed
  • 20 Jul 2026

In the Warsh Fed's new era of two-way risk, bonds offer something rare: potential downside risk mitigation that investors get paid to hold.