2018

Thirdrock November Macro Outlook
This month, we explore to pressing issue of total debt; not just from public borrowers—beloved among those with an eye on emerging market (EM) sovereign debt—but also the stock of private (in particular, household and corporate) debt. View More - View More PNG pdf_icon_small

Thirdrock October Macro Outlook
This month, developments on the global trade front force us to return to the theme. Rather than focus on either economic implications or political-economy considerations in the bilateral China-U.S. relationship. - View More PNG pdf_icon_small

Thirdrock September Macro Outlook
This month, we take a step back and look at the sustainability of capital flows—which has been in the news lately as emerging markets (EMs) worldwide are experiencing currency pressure—from the perspective of imbalances at the global level, courtesy of recent evaluations issued by the International Monetary Fund (IMF). - View More PNG pdf_icon_small

Thirdrock August Macro Outlook
As the Northern hemisphere presses on into the quiet calm of summer, we review the macro picture of the major developed markets (DMs) over the first half. - View More PNG pdf_icon_small

Thirdrock July Macro Outlook
Earlier this year, we raised the possibility that the prevailing consensus narrative of a “synchronised global expansion” was beginning to show signs of fraying. Nowhere is this more evident than in emerging markets (EMs), where financial outflows from the asset class are now becoming larger and more persistent. - View More PNG pdf_icon_small

Thirdrock June Macro Outlook
Markets calmed noticeably over the past month, which allows us to take a step back and dive a little deeper into one of the fundamental drivers behind several macro themes. - View More PNG pdf_icon_small

Thirdrock May Macro Outlook
Financial markets have remained volatile over the past month, which we consider a “new normal” state of affairs, as the global economy—especially developed markets (DMs)—enters its late-cycle stage. - View More PNG pdf_icon_small

Thirdrock April Macro Outlook
Even by the standards of uncertain financial markets, February was a roller-coaster ride, and after a brief pause for breath, markets again whipsawed in March. - View More PNG pdf_icon_small

2017

Thirdrock Quarterly Outlook – Q1 2017
The Rains of Castamere - View More PNG pdf_icon_small

2016

Thirdrock Quarterly Outlook – Q4 2016
Between a Rock and a Hard PlaceView More PNG pdf_icon_small

Thirdrock Quarterly Outlook – Q3 2016
Winter is ComingView More PNG pdf_icon_small

Thirdrock Quarterly Outlook – Q2 2016
Running to Stand Still – View More PNG pdf_icon_small

Thirdrock Quarterly Outlook – Q1 2016
Too Little, Too LateView More PNG pdf_icon_small

2015
Thirdrock Quarterly Outlook – Q4 2015
Down the Rabbit Hole We Go - View More PNG pdf_icon_small

Thirdrock Quarterly Outlook – Q3 2015
Risk Flares – Mind the Gap! View More PNG pdf_icon_small

Thirdrock Quarterly Outlook – Q2 2015
Guarded Pessimism with Cautious Optimism View MorePNG pdf_icon_small

 

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