Macro Briefing Notes (unlocked)
The Macro Outlook for w/c 26 May 2025
Key events this week; US PCE inflation & prelim goods trade balance, FOMC minutes, & RBNZ meeting Recap from last week: Navigating the Economic Crosscurrents: Tariffs, Inflation, Growth, and Sentiment We pick up on a similar theme to last week as we continue...
The Macro Outlook for w/c 19 May 2025
Key events this week – S&P Prelim PMIs May, RBA meeting, CPI: Japan, UK, Canada, and the Euro area Recap from last week - Navigating the Economic Crosscurrents: Tariffs, Inflation, Growth, and Sentiment We continue to navigate shifts in the economic landscape amid...
The Macro Outlook for w/c 12 May 2025
Key events this week – US CPI, PPI, retail sales, output, housing, and US Fed speeches Recap from last week: Central Bank Decisions Diverge on Tariff Uncertainty Elevated tariff uncertainty and trade tensions remained a key theme among central bank decisions last...
The Macro Outlook for w/c 5 May 2025
Key events this week – FOMC & BoE meetings, ISM & S&P Services PMIs Recap from last week: The tariff reality begins to bite. The reality of tariffs appears to be starting to ripple through the US and global economy. The breadth of this impact will depend,...
The Macro Outlook for w/c 28 April 2025
Key events this week – US Q1 GDP, Non-farm payrolls, PCE inflation, ISM manufacturing PMI, Eurozone & Aus CPI, BoJ Meeting Recap from last week: Global PMIs Soften as Tariff Risks Loom. There were several unifying themes emerging from the various surveys and data...
The Macro Outlook for w/c 21 April 2025
Key events this week – S&P prelim PMIs for April, US Durable Goods Orders, Fed Beige Book Recap from last week: Tariff Uncertainty Weighs on Central Bankers. Uncertainty surrounding US tariffs looms large over global monetary policy. Speeches last week showed...
The Macro Outlook for w/c 14 April 2025
Key events this week – US retail sales, US Fed Chair Powell speech, BoC & ECB decisions, and global inflation data Recap from last week: Uncertainty Continues to Cloud the Economic Horizon. Negative market reaction to the US tariff shock of April 2nd continued to...
The Macro Outlook w/c 7 April 2025
Key events this week – US reciprocal tariffs, US CPI & PPI, FOMC Minutes, RBNZ monetary policy meeting Recap from last week: The US tariff shock. The unexpected scale and breadth of the “Liberation Day” tariff announcement sent shockwaves through markets, with...
The Macro Outlook for w/c 31 March 2025
Key events this week – US tariff announcement, US non-farm payrolls & ISM surveys, Fed Chair Powell speech, RBA meeting, global S&P PMI’s Mar Recap from last week: US inflationary pressures persist amid slowing growth US data last week reflected a tension...
The Macro Outlook for w/c 24 March 2025
Key events this week – US PCE inflation, Prelim PMIs March Recap from last week: Central banks adopt a cautious approach amid an uncertain outlook. Central bank decisions last week underscored a cautious approach to the near-term policy outlook amid rising uncertainty...
