TS Lombard Insights on Macro Research, Geopolitical Investments and Investment Strategy

Dario Perkins

Dario Perkins joined TS Lombard in 2011 and is Managing Director, Global Macro. He covers a wide range of global macroeconomic themes and writes the fortnightly Macro Picture. Dario has extensive experience as an economist in both the public and private sectors. At the UK Treasury he co-ordinated Gordon Brown’s global economic forecasts and was responsible for designing the structure of the Bank of England’s Financial Policy Committee. He also produced an important review of the BoE following the 2008 crash. At ABN AMRO he was the City’s top-rated European economist for three consecutive years, earning a reputation for his communication skills and central-bank forecasting record.

Can the world rebound from the Covid-19 recession?

01 Sep 2020 - Dario Perkins

The COVID-19 economic collapse was unlike anything we have seen before. This was not your classic recession. Yet it was actually easy to forecast. Given the nature of the shock – especially lockdowns and social.

#Recession #Covid19 #Unemployment #Retail Sales

Bubbles, Covid-19 and digital disruption

07 Aug 2020 - Dario Perkins

Arguments about a bubble in equities continue, with US tech at the center of the dispute. Some are drawing comparisons with Dotcom in the 1990s. Yet the economic risks are greater this time. Big tech companies provide.

#Equities #Technology #Bubble

Road to inflation

27 Jul 2020 - Dario Perkins

Inflation remains an important theme for our clients. Perhaps this reflects supreme confidence in the policies governments and central banks have introduced to support their economies during the COVID-19 pandemic. With.

#Central Banks #Inflation #Equities #Covid19 #Unemployment

Lessons from the lockdown

16 Jul 2020 - Dario Perkins

For months, investors have been “looking through” macro data and focusing on the prospects for a global recovery, with aggressive policy support – both monetary and fiscal – bolstering their confidence. With the global.

#Covid19

Can Europe outperform during America’s COVID-19 second wave?

09 Jul 2020 - Dario Perkins

With every macro data point we are learning more about the economic consequences of the COVID-19 pandemic. What have we discovered so far? First, the contraction in activity – the largest in modern history – is.

#Eurozone #Recession #Covid19

Investors can’t rely on central banks

24 Jun 2020 - Dario Perkins

The bounce in global stock markets since March has been both spectacular and a bit puzzling. Despite widespread gloom among institutional investors about ‘fundamentals’ – concerning both the macro outlook and the.

#Central Banks #Federal Reserve #Liquidity #Equities #Fiscal Policy #Covid19 #Bear Market

COVID-19 and secular stagnation - the next business cycle

16 Jun 2020 - Dario Perkins

COVID-19 has resolved our most popular client question of the last five years – “when will this cycle end?’ Even as the number of infections slows and the lockdowns end, most economies will reopen to a serious global.

#Federal Reserve #Monetary Policy #Equities #Bond markets #Covid19

Further stimulus needed

10 Jun 2020 - Dario Perkins

As the global economy exits “lockdown”, improving macro data will provide a further boost to investors determined to look-through the deepest economic contraction they will see in their lifetimes. Yet the economic.

#Covid19

Macro policy vs Covid-19 - Has policy done enough?

26 May 2020 - Dario Perkins

The recovery in investor sentiment since March has been impressive (even puzzling...). Back then, as the global economy entered lockdown, a “flight-to-safety” rapidly became disorderly, leading to an outright.

#Central Banks #Balance Sheet #Fiscal Policy #Covid19

The war on deflation

15 May 2020 - Dario Perkins

The COVID-19 pandemic has forced governments and central banks to work together to support the economy. While most investors welcome these efforts – it is the reason global asset prices have recovered from their March.

#Central Banks #Monetary Policy #Inflation #Recession #Covid19