Macro Matters is a global investment blog brought to you by LGIM’s Asset Allocation team. We’re focused on sharing our most compelling thinking to help you become more informed investors.

Latest articles

Economics

50bps of Grey

An ONS survey supports our view that real GDP is underestimated by around 50bp as people refuse to declare 'grey' / 'sharing' economy earnings, such as sub-letting accommodation.

Read more

Economics

Kickstart the Kitkat machine

Global manufacturing inventories are falling for the first time in two years. This suggests the industrial cycle could be bottoming out.

Read more

Strategy

The lopsided UK residential property market

A new look at old data suggests that buy-to-let has been the 'only game in town'" in the UK property market for the last 15 years. Tighter regulatory and fiscal policy threatens to disrupt that growth, with potentially significant consequences for the whole residential property market.

Read more

Strategy

Why you should question analyst forecasts

Given how often ‘consensus earnings expectations’ are quoted in the financial press and feature in investor discussions there is surprisingly little awareness of what consensus really is. What does it really measure? Who contributes to it? What are its biases?

Read more

Strategy

When crowding out becomes crowding in

With interest rates near zero and the economic recovery as lacklustre as it began, many people accuse central banks in the developed world of 'pushing on a string'. However, don't underestimate the impact that this buying has on asset prices.

Read more

Economics

The Productivity Conundrum

Productivity determines our living standards and real wages. While the universal translator isn't invented until the 22nd Century (according to Star Trek), we are living in a more technologically advanced, "freemium" world which suggests that inflation is probably overestimated by ½%.

Read more

Macrobites

Worried about Mutti

More and more investors seem to be getting concerned about Angela Merkel’s future. Will/can Mutti stay? To me the risk of Merkel being pushed out remains low.

Read more

 

Search

Date From:
Date To: