Macro Matters June 2024

18 June

(Source: Merlea Macro Matters) Summary Due to the delayed easing by the Federal Reserve, many other economies will also see postponed rate reductions. This includes countries with currency pegs to the US dollar, like Saudi Arabia, and those...[Read More]

Macro Matters May 2024

21 May

(Source: Merlea Macro Matters) Summary In the latest market developments, a combination of factors are shaping investor sentiment. With inflation on a downward trajectory and robust corporate profits, particularly in the realm of AI-focused...[Read More]

Macro Matters April 2024

18 April

(Source: Merlea Macro Matters) Summary Economic resilience remains a notable narrative across major developed economies, particularly in Europe and Japan, where performance has exceeded expectations. Europe benefits from decreased natural gas...[Read More]

Macro Matters February 2024

23 February

(Source: Merlea Macro Matters) Summary As we reflect on the economic landscape spanning from mid-2021 to late 2022, it becomes evident that despite robust growth and a strong job market, overall sentiment remained bleak. Although this period...[Read More]

Macro Matters January 2024

2 February

(Source: Merlea Macro Matters) Summary  Key factors to monitor for the 2024 global economic outlook include - US interest rates, oil prices and the Chinese economy.   The resilience of the world economy in 2023 surpassed initial...[Read More]

Macro Matters December 2023

18 December

(Source: Merlea Macro Matters) Tis the season for financial reflection, as we unwrap the present state of markets. Summary Exploring the recent dynamics in the financial markets reveals a compelling narrative. The Federal Reserve's decision...[Read More]

Macro Matters November 2023

10 November

(Source: Merlea Macro Matters) Summary The global economic landscape is navigating uncertain terrain, with various factors impacting both developed and emerging markets. While the spectre of a recession hasn't fully materialised, it's becoming...[Read More]

Macro Matters October 2023

19 October

(Source: Merlea Macro Matters)  Summary  In September, global stock markets encountered challenges influenced by factors such as concerns about economic growth and expectations regarding interest rates. While the US experienced positive outcomes...[Read More]

Macro Matters September 2023

22 September

(Source: Merlea Macro Matters) Summary Global GDP stagnated in the second quarter of 2022 and output declined in the G20 economies. While it is likely that growth in the third quarter has been positive, helped by a pick-up in China, several...[Read More]

Macro Matters August 2023

25 August

(Source: Merlea Macro Matters) Summary Global inflation continued to slow broadly, fuelling hope that central banks would begin to ease up on their aggressive tightening policies. Despite the optimism, however, core inflation in most developed...[Read More]

Macro Matters July 2023

4 August

(Source: Merlea Macro Matters) Summary Bond yields rose in many countries, including in the US. US equities posted substantial gains as stress in regional banks eased. A relatively small cohort of technology stocks powered the US stock market...[Read More]

Macro Matters June 2023

13 July

(Source: Merlea Macro Matters) Summary Although many investors are expecting a return to normal after inflation subsides and central banks stop raising interest rates, we believe markets are undergoing significant changes. Investors may need...[Read More]

Macro Matters May 2023

11 May

(Source: Merlea Macro Matters) Summary Could it be that a generational shift of investors since the 1980s fails to understand what high rates and central bank tightening really means? The cycle we are in is like no other witnessed since the...[Read More]

Macro Matters March 2023

9 March

(Source: Merlea Macro Matters) Summary While a global recession in 2023 cannot be ruled out, it is not the most widely anticipated outcome at this time. While tightening of monetary policy typically involves increasing interest rates, which...[Read More]

Macro Matters January 2023

16 January

(Source: Merlea Macro Matters) Summary Investors can expect ‚Äúsome light after the storm‚ÄĚ in 2023, however inflation, geopolitical uncertainty and intensifying economic divergences will still be the main themes. Our baseline expectation...[Read More]