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    Get your daily round-up of markets, macroeconomic trends, and global shifts through the Daily Macro Lens.

    • No Recession but Pain Nevertheless?

      July 28, 2025

      For our chart of the day, changes in market expectations of the Federal Funds Rate, comparing the current trajectory with that on April 25, 2025.

    • Trump Wanted A Weaker Dollar and He Got It

      July 25, 2025

      For our chart of the day, we analyse YTD moves across key currency pairs and factors that could continue to weigh on the Dollar.

    • Japan's Tariff Triumph

      July 24, 2025

      For our chart of the day, we analyze recent moves in Japan's 10Y JGB and TOPIX index in the wake of a new trade deal being signed with the US.

    • Is this the US’ Watershed Moment?

      July 23, 2025

      For our chart of the day, we analyze the CBO's latest deficit projections for the OBBB Act and its implications for the US economy and bond markets.

    • Japan’s Political Quake

      July 22, 2025

      For our chart of the day, we analyse the impact of the changing political landscape in Japan and what that means for the Yen and JGBs.

    Contributor

     

    Gareth Nicholson

    CIO and Head Discretionary Portfolio Management

    Disclaimer

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