Insights
Spooky action at a distance: US and China
The US and Chinese economies may be uncoupling their trade and financial ties but their prospects remain entangled, as the first part of this two-part series on China and the US spelt out: not through trade and finance, but through other, subtler mechanisms. Likewise, their respective banking sectors appear at first glance to be almost completely separate; but a closer look using network analysis techniques paints a subtly different picture. There are some patterns of shocks that discriminate between US
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Global semiconductor demand surges as AI buildout accelerates
UK Update: foreign vs domestic pressures
Conscious uncoupling: China and the US
UK Update: no case for a rate hike
What does it mean ‘to win’ for the US and China?
China’s industrial policies, a help or hindrance?
UK Update: to hold or to hike?
Global Outlook, Summer 2026: preview
UK Update: a change in tone from the BoE
Beyond Made in China 2025
Could financial repression help cut mounting debt?
UK Update: MPC retains a bias to loosen
China’s economy under a Hormuz closure
Dynamism in China’s corporate sector
UK Update: when the facts change
Hormuz block: an oil price shock scenario
Idea that Britain cannot afford to arm itself is dangerous nonsense
What do Milei’s reforms mean for Argentina?
Global Outlook, Spring 2026: preview
UK Update: from dovish cut to dovish hold
Japan election landslide may deepen tensions with Beijing
UK Update: a dovish cut
Venezuela: a different kind of crisis
China MIC Marvel or Bifurcation Blues?
Data-led lessons for geopolitical risk insurance
Global Outlook, Winter 2025: a fiscal wreckoning for Japan?
UK Update: doves to hold sway on MPC
A pre-election takeaway?
China’s chokehold on key minerals: what the data say
UK Update: quicker rate of cuts to come
“The Middle East has oil, China has rare earths”
Who won the US-China trade war?
Mexico on the tightrope
China’s opening: more access, not more freedom
China’s domestic demand woes persist
UK Update: important Budget looms
Global Outlook, Autumn 2025: fiscal policy under high interest rates
China targeting growth via security?
China’s new European target — Spain
Who will bear the brunt of falling ODA?
Fathom’s Top 10 reads for 2025 Q3
China’s pivot to Russia for energy security
Considering scenarios for US tariffs
Little to celebrate in China’s latest data
China’s economic statecraft in Pakistan’s energy sector
UK Update: weaker growth prospects
Russia looks to Asia to beat sanctions
Global Outlook, Autumn 2025: preview
40m Chinese workers in unproductive jobs
Mexico’s greenfield boom: opportunity or threat?
The euro system is stressed, again
China’s investment dips after 2023 surge
UK Update: food prices may risk second-round effects
Trading the decarbonisation of European aviation
US jobs revisions prompt economic rethink
Fathom’s Top 10 reads for 2025 Q2
Germany’s planned fiscal expansion
UK Update: stagnation adds to rate-cut pressures
Is 2025 rewriting the markets playbook?
Electricity will be the new jet fuel
Noncommonality and global market dislocation
Hydrogen stages quiet coup at Paris Air Show
New NATO spending target squeezes already-tight budgets
Will the US lose its reserve currency status?
Global Outlook, Summer 2025: dealing with global imbalances
UK Update: the potential for second-round effects
Keep calm and bet (on) the FARM
UK Update: growth surprises, sentiment still low
Global Outlook, Summer 2025: preview
Is there a measurable impact of AI on employment?
Tariff update: objectives and outcome
An unfolding trade war with untold consequences
Fathom’s Top 10 reads for 2025 Q1
UK Update: less persistence than expected?
Global Outlook, Spring 2025: a turn for the worse
Are US economic ties at a turning point?
China’s drive towards autos dominance
China’s strategic gamble on ‘Made in China 2025’: a verdict
UK Update: weakness and persistence
What DeepSeek tells us about China’s progress in AI
Bargain-hunting US investors remain vigilant
New realities, new alliances: the case of Canada
No end in sight for China’s housing woes
Curing the sick man of Europe
UK Update: uncertainty on the rise
Global Outlook, Spring 2025: preview
Assessing French fiscal risks
Fathom’s Top 10 reads for 2024 Q4
Fathom book club: Edmans, Flyvbjerg and Erikson
Could Vietnam replace China?
Risks to EMs in the easing cycle
UK Update: February cut may be last this year
Made in China 2025: a milestone verdict
Christmas books: a Fathom wishlist
Measuring systemic risk in the shadow banking sector
Global Outlook, Winter 2024: the new path for interest rates
Fathom investment optimiser points to Poland and US
‘Trump Lite’ versus ‘Donald Dark’
UK Update: up or down? Bank’s inflation conundrum
Financial markets and the Trump presidency
Global Outlook, Winter 2024: preview
UK Update: rate cuts? Don’t hold your breath
First reactions to a second Trump presidency
Chinese outward FDI soars in 2023
South Asia: a region ‘in play’
China is waving in the robots
Fathom’s Top 10 reads for 2024 Q3
Hiring patterns, equity returns and the economy
Fiscal rules should encourage R&D
Global Outlook, Autumn 2024: a change is coming
UK Update: all eyes on the Budget
Chinese equities enjoy a ‘whatever it takes’ moment
The path towards a more open India
Negative energy prices in Europe
The Sahm rule: useful, not conclusive
UK Update: inflation to remain above target in the near term
Rate cuts: a high-water mark for markets?
Value hunting in Magnificent Seven era
Aid as a policy tool
Global Outlook, Autumn 2024: a change is coming
Gauging the true US monetary stance
China losing ground to US on finance ties, Tracker shows
Lessons from SpaceX
Could economics swing the US election?
Do future growth expectations help explain fertility rates?
China plus one: how much could de-risking cost?
Has sterling’s time finally come?
UK Update: inflation to move back above target in July
Türkiye eyes new FDI target
Market turmoil in perspective
Investors and the easing cycle
Three per cent: China’s new horizon for growth
O voter, where art thou?
Could de-regulation revive the UK economy?
UK Update: rising risk of a policy error?
Could Frexit become a reality?
China plus one: who could replace the PRC?
Chinese statecraft through new energy FDI
The US strengthens ties with Taiwan
Fathom’s Top 10 reads for 2024 Q2
All change please: the old model terminates here
Mileinomics starts to have an impact
Global Outlook, Summer 2024: old lessons for new times
Rising London house prices: a golden truth?
De-risking: looking at patterns in global trade and globalisation
Is clean tech the answer to China’s slowing growth?
UK Update: reasons for optimism
Nice margins: mind the AI
Global Outlook, Summer 2024: Preview
Banks in OECD economies look resilient
Can economic fundamentals determine the US election outcome?
Transition aid meets economic statecraft
Can economics explain geopolitical alignment?
US dynamism in prospectors
Why EM stocks are on the up
Is it “the economy, stupid”?
UK update: CPI set to fall below 2.0% in April
Market pricing in times of conflict
Solving the US labour market puzzle
Fathom’s Top 10 reads for 2024 Q1
Farewell to the fan chart
Can India harness its full potential?
The benefits of ‘higher for longer’
A farewell to Keynes
Opacity and pessimism in China
Will China-made smart cars outwit US sanctions?
Global Outlook, Spring 2024: surf the wave, mind the exit
Foreign investors eye up India
Unpicking euro area credit risk
China high-tech exports resist the bite
Justifying ‘higher for longer’
Chocolate and climate change
The early warning signal from banks
Global Outlook, Spring 2024: Preview
India’s incredible democracy
Does China plus one equal India?
Japan’s corporate sector: not zombies but cash cows
Tapping untapped sun and wind
China’s influence in commodity markets
Is China’s BRI activity underreported?
Investors wary of Chinese equities
Exploring UK regional inequalities
Corporate Japan’s actively passive attitude
Fathom’s Top 10 reads for 2023 Q4
Can South Korea avoid Japan’s fate?
Climate diplomacy: time for a new lobbying technique?
Euro area economy in the doldrums
On the trail of China’s influence in Africa
Japan to the world: yield curve control is no more
Weight-loss drugs feed performance
US outperformance – a trend not an aberration
Global Outlook, Winter 2023: The Matterhorn, not Table Mountain
COP28: economics first, climate second
Military aid for Ukraine starts to flag
Why Germany needs a new economic model
Global Outlook, Winter 2023: Preview
Health-checking corporate America
Resilient US housing market’s soft underbelly
Global impact of a slowing China
China’s hidden military spending
Money buys happiness, up to a point
Tight credit brings constraints to the fore
Can disinflation turn Tory election fortunes?
Women in the labour market
Update: Middle East conflict
Inflation disparities across the euro area
China changes its tune to the broken-wing blues
Poland inflation and central bank independence
Fathom’s Top 10 reads for 2023 Q3
Tuning reefs to competing interests
US equities and the power of the few
Global Outlook, Autumn 2023: fortunes diverging
China rising in Latin America
The US fails to friend-shore
Is China the threat it’s made out to be?
Germany’s partner, competitor and rival
US dollar and commodities
Why are houses so expensive?
How inflation surprises impact portfolio diversification
https://www.fathom-consulting.com/research-notes/how-inflation-surprises-impact-portfolio-diversification/
US outbound investment screening
Chinese real estate market falters
Internally China slows, while its reach grows
Watching for a euro crisis
What’s going on in Niger?
Recession Watch: longer debt maturities are no panacea
Tracing dependency and trading it
Is Africa the energy supplier of the future?
Fathom’s Top 10 reads for 2023 Q2
The surprising truth about energy transition supply chains
Recession Watch: realistic optimism
Building transition-related diversity
Is the dollar’s status at risk?
Global Outlook, Summer 2023: two bullets still in the chamber
Will China enter a balance-sheet recession?
The renminbi’s momentum has faltered
Global Outlook, Summer 2023: one bullet dodged
China’s youth unemployment rate at 20.4%
Recession Watch: sunny mood in markets
China’s economic echo chambers
Should an oil nation lead COP28?
There must be some kind of way outta here
Will AI cause job losses?
The point of r-star
The warning from Swedish real estate
The Bank of England is still behind the curve
Which came first: credit crunch or recession?
Recession Watch: is the Fed tightening going to plan?
The focus of UK R&D policy
Let’s talk about the credit cycle
Why the UK underexploits its innovation
The unusual shape of China’s recovery
Chatbots will eat themselves
UK tech continues to attract investment
Innovation policy lacks a spring in its step
Global Outlook, Spring 2023: the Good, the Bad and the Ugly
Recession Watch: the three C’s in crises
Mutualising climate change risks
Harnessing technological breakthroughs
Recession Watch: the size of prospective rate cuts
Recession Watch: the banking system’s known knowns
Gauging the risk of a banking crisis
Higher rates impeding green transition
Recession Watch: SVB triggers risk-off mood
Contagion risks from SVB failure
Norway’s ferry-tale transformation
Recession Watch: flipflopping
Global Outlook, Spring 2023: Repeating past mistakes
Recession Watch: spotting European risks
A game theory approach to techno-economic competition
China’s high-tech dream gains momentum
The US outlook the markets are pricing
Recession Watch: no landing… for now
Automation: this time could be different
Measuring the AI sector
Unemployment and recession
Recession Watch: the pause for breath
Automation could offset China’s demographic problem
Evolving European energy outlook
Introducing ‘Welcome to the machine’
Recession Watch: US doing all it can to avoid recession
Land of the rising yields
Recession Watch: Goldilocks and the macro bears
Recession Watch: the dog that didn’t bark, yet
Recession Watch: tightening with both hands
Making the case for a UK industrial strategy
Fathom’s Top 10 reads for 2022 Q4
Recession Watch: slowly, and then all at once
Recession Watch: risk of resurgent inflation
Fathom’s Christmas holiday reading
Recession Watch: savings only temporary respite for US
Recession Watch: markets two steps ahead of the data
Global Outlook, Winter 2022: Blinded by the pivot?
Markets rotate to low-duration equities
Recession Watch: what if Japan releases the brakes?
Global Outlook, Winter 2022: Preview
Recession Watch: is ‘zero COVID’ on the way out?
Energy crisis fuels EU sovereign risks
Japan inflation: have we reached a turning point?
Recession Watch: identifying recessions with uncertain data
Recession Watch: leverage spotting
Avoid greenwashing and make a difference
Politics trumps economics in US midterms
Recession Watch: no rescue from excess savings
EMs need to scale up green investment
Remember, remember
Spotting net zero’s investment opportunities
The impact of a slowing Chinese economy
Recession Watch – delaying the inevitable?
Net zero transition may require scrapping $20 trillion of ‘dirty’ assets
$100 trillion needed to meet Paris goal – in context
Recession Watch: was the UK fiscal wobble a sign of things to come?
An investor’s guide to net zero by 2050: key takeaways
Don’t underestimate China’s bad loan problem
Recession Watch: riders on the storm
The UK’s degrowth plan
Inflation: seconds out for round two
Recession Watch: here we go again
Fathom’s Top 10 reads for 2022 Q3
Housing could cause a China banking crisis
How the markets reacted to the UK ‘mini-budget’
The UK loses its magic money tree
Why is the yen falling?
Global Outlook Autumn 2022: Spiralling…out of control?
Welcome, Prime Minister
Why China must automate
The great transatlantic divergence
Beware of people bearing gifts
Challenging times for hedged equity investing
Weather and gas supply will dictate depth of EU recession
Fathom book club: Raworth, Rebanks and Sheldrake
Demographics – looking into the future
Lessons for China-Taiwan from Russia-Ukraine
China growth to be around half Xi’s target in 2022
Euro area stability — a tale of two leaders
Fathom’s Top 10 reads for 2022 Q2
Is the age of globalisation over? Yes — and no.
Global Outlook, Summer 2022: Update
Market takeaways on inflation and hawkishness
Fathom book club: Kearns, Lee and Pasquale
Global Outlook, Summer 2022: Between a rock and a hard place
Soaring food prices raise the risk of political instability
Is Xi’s authority in trouble?
The Middle Kingdom is in the doldrums
Fathom book club: Copeland, Kahneman and Rozelle
Global Outlook, Spring 2022: Update
China’s economic woes mount
Back to the 1970s
Russian bears scratching each other’s backs
US military expenditure — Biden should focus on R&D
China is not about to drive up global inflation
Fathom’s Top 10 most read for 2022 Q1
Standoff over gas payments risks a continental recession
Global Outlook, Spring 2022: Fake it till you make it
Behind-the-curve Fed signals more rate hikes
China housing set for further easing
The beginning of history
Inflation drivers and equity markets
Initial thoughts on today’s events in Ukraine
The perils of tighter Fed policy
The Ukrainian crisis and European inflation
China on the road to Japan
Is Brexit fuelling UK inflation?
Macro FROGcasting and portfolio construction
Understanding Turkey’s currency crisis
Sri Lanka’s woes – a sign of the times?
Reflections from COP26 — winners and losers
Hits and misses in 2021
Risks of stagflation receding in China
Currency crisis in Turkey, preventable or intentional?
Are we heading for a systemic banking crisis?
China’s house of cards
China’s intellectual property acquisition erodes US edge
Hidden inflation in the services sector
GEMO 2022 Q1: Credibility stretched
Financial vulnerability in Africa
Greta says it’s all just blah blah blah ─ why I disagree
Are inflation expectations slipping their anchor?
Run to the hills? Not yet
How to spot a cop-out at COP26
Allocating the world’s carbon budget
Valuing land before and after COVID
Decarbonising the UK’s electricity mix – what will it take?
Is Made in China really made in China?
COP26 unlikely to achieve its targets
GEMO 2021 Q4: Global recovery complete — what next?
The bumpy road to climate transition
COVID still poses risks to demand and supply
Round-up: from global interest rates to public sector bankruptcies
Is China’s vision of high-tech specialism stalling?
China’s climate challenge ahead
New IPCC report ups the climate stakes
Biden should stick to China tariff regime
Has low-for-long run its course?
Using fundamental and sentiment news to shape equity allocation
Recovery Watch, 14 July 2021
Has China passed the Lewis turning point?
Monthly update, June 2021
Recovery Watch, 9 June 2021
GEMO 2021 Q3: Inflation – deal with it, or roll with it?
A tale of two cryptos
Signs of optimism for the EU
If I were a monetarist…
Recovery Watch, 5 May 2021
The fall and rise of the output gap
The resource curse through the lens of the DRC
China’s rare opportunity to rebalance
Monthly update, April 2021
TCFD: a climate game-changer
Global recovery – who is winning?
Inflation: too much talk, little action
Recovery Watch, 7 April 2021
A Ricardian view of Brexit
Monthly update, March 2021
GEMO 2021 Q2: Investors return to macro and inflation outlook
Dimensions of power: US and China
Sequencing Bitcoin’s macro DNA
Recovery Watch, 3 March 2021
Global macro in a pandemic: messages from Fathom’s Centrality Tracker
China’s housing bares all
QE no panacea for EMs in another Taper Tantrum
Monthly update, February 2021
EU climate policy: risks and opportunities
Biden presidency a potential game changer, but net zero path requires bipartisan support
Recovery Watch, 3 February 2021
This year give your investments a macro makeover with Fathom’s macro portfolios
Can Joe Biden make America great again?
Recovery Watch, 13 January 2021
Recovery Watch, 6 January 2021
China’s corporate bond defaults: are they here to stay?
Recovery Watch, 16 December 2020
Recovery Watch, 9 December 2020
Recovery Watch, 2 December 2020
GEMO 2021 Q1: Hope at last
Chancellor announces highest public investment since the GFC
Recovery Watch, 25 November 2020
Recovery Watch, 18 November 2020
Recovery Watch, 11 November 2020
Divided US government means less fiscal support
Climate economics and the US election
Recovery Watch, 4 November 2020
Recovery Watch, 28 October 2020
Recovery Watch, 21 October 2020
Recovery Watch, 14 October 2020
Recovery Watch, 7 October 2020
US Election: Biden the base case, but Trump can’t be ruled out
Recovery Watch, 30 September 2020
How much debt is too much?
Recovery Watch, 23 September 2020
Sino-US tensions in a post-COVID world
Recovery Watch, 16 September 2020
GEMO 2020 Q4: On the up
Recovery Watch, 9 September 2020
Recovery Watch, 2 September 2020
Recovery Watch, 26 August 2020
Recovery Watch, 19 August 2020
What next for the labour market?
Recovery Watch, 14 August 2020
A little less conversation, a little more action, please
Beyond COVID-19
Recovery Watch, 5 August 2020
Recovery Watch, 31 July 2020
Can Trump delay the election?
Recovery Watch, 22 July 2020
Recovery Watch, 17 July 2020
Recovery Watch, 8 July 2020
Spread of COVID-19 is slowing for reasons other than lockdown
China’s juggling act between hot property and a cold economy
Recovery Watch, 3 July 2020
Recovery Watch, 26 June 2020
Recovery Watch, 24 June 2020
How do we get from V to L?
Recovery Watch, 22 June 2020
Recovery Watch, 19 June 2020
Recovery Watch, 17 June 2020
Recovery Watch, 12 June 2020
Recovery Watch, 10 June 2020
Recovery Watch, 8 June 2020
GEMO 2020 Q2: Climbing out the other side
Recovery Watch, 5 June 2020
Recovery Watch, 3 June 2020
Recovery Watch, 29 May 2020
Recovery Watch, 27 May 2020
Recovery Watch, 26 May 2020
Recovery Watch, 22 May 2020
Recovery Watch, 20 May 2020
Recovery Watch, 18 May 2020
Recovery Watch, 15 May 2020
Recovery Watch, 13 May 2020
Recovery Watch, 11 May 2020
Recovery Watch, 6 May 2020
What is monetary financing, are we doing it, and if so does it matter?
Recession Watch, 1 May 2020
China’s labour market statistics fail the sniff test, but are not alone
Recession Watch, 29 April 2020
Recession Watch, 27 April 2020
Recession Watch, 24 April 2020
Recession Watch, 23 April 2020
Recession Watch, 21 April 2020
Recession Watch, 20 April 2020
Recession Watch, 16 April 2020
Recession Watch, 15 April 2020
Down but not out: signals from Fathom’s asset allocation toolbox
Recession Watch, 14 April 2020
Recession Watch, 9 April 2020
Potential short- and long-run economic consequences of COVID-19
A chance for China to tell it how it is
Recession Watch, 3 April 2020
Recession Watch, 31 March 2020
Recession Watch, 30 March 2020
Recession Watch, 27 March 2020
Recession Watch, 26 March 2020
A tale of two crises: rising unemployment key to the Irish outlook
ECB steps in as contagion fears resurface
Recession Watch, 19 March 2020
2020 Q1: biggest global recession since the 1930s
COVID-19 spread sparks Italian debt sustainability fears
UK economic sentiment strengthened further last month
Raise a glass to the new chancellor
Global recession now odds on
Assessing the ECB’s monetary toolkit
Is France heading towards recession?
US sentiment bounces back, but growth yet to follow
China’s underutilised society
ECB’s strategy review unlikely to solve its inflation woes
Why have the aftermaths of recent banking crises been so painful?
Introducing Fathom’s Centrality Tracker: a measure of global linkages
Fathom’s UK ESI points to a rapid turnaround in sentiment
UK fiscal expansion to lift growth in coming quarters
2020 vision: turning hindsight into insights
The building blocks of China
The euro area: reverting to trend
US December sentiment – a dead cat bounce?
UK election sees currency risk fall, despite continued uncertainty
2019 in review: investors embrace European political changes
Netflix and chill: economists find new meaning
Introducing Fathom’s China Momentum Indicator 3.0
UK economic sentiment weakest for more than ten years
Investors content to hold European debt as pressure for easing grows
US economy to avoid recession, but weak rebound ahead
UK inflation to fall below zero in the event of a Conservative majority
FROG: the asset allocation prince
UK electoral arithmetic: testing the loyalty of conflicted voters
Introducing Fathom’s 2019 Q4 forecast: through the looking glass and back to reality
Surveys of economic sentiment suggest UK still on cusp of recession
China: down and fighting back
Spanish ESI softens, but growth likely to remain strong
Trade deal offers hope amid economic slowdown
Fathom’s capital flows database — greatest hits
Bullish investors taking a new look at Greek debt
India: positive demographics, but will they be harnessed?
European fiscal easing not enough to offset weaker growth
European fiscal easing not enough to offset weaker growth
Global trade: pause or rewind?
US sentiment – back to reality
The Hong Kong problem
Greece: more debt and fewer people
How low can yields go?
Happy Anniversary?
Fathom’s Top 10 for 2019 Q3
US sentiment to suffer due to weakness abroad and slowdown at home
Impeachment proceedings do not change US economic outlook
Supreme Court rules
UK economic sentiment lowest since the recession
Trading places: France emerges from Germany’s shadow
Investors confident of Italy staying, less so of them paying
Investors complacent about US–China deal?
Introducing Fathom’s 2019 Q3 forecast: A pause that refreshes?
Rebalancing remains a distant prospect for China
The impact of a Labour government
Liquidity FLiq-ed on by July Fed cut
Fathom’s ESI reflects pessimism in German manufacturing sector
Tariff-neutralising fall in China’s currency fails to stem economic slowdown
Don’t FVI for me Argentina
US sentiment rebounds amid longer term slowdown
UK ESI consistent with broadly flat economic output in July
A new dimension in British politics
China will refrain from going nuclear on currency weaponisation
Inflation projections plagued by Brexit uncertainty
FLI points to a turn in the manufacturing cycle
Consumption tax up, sentiment down
Investors cheer prospect of ECB easing
Nowcast provides little support for ECB policy easing
US economic sentiment weakened in June amid escalating trade tensions
Fathom’s ESIs highlight manufacturing weakness
Debt sustainability issues limit room for manoeuvre in some euro area economies
Fathom’s UK ESI reaches a six-year low
Fathom’s CMI 2.0 slows to 4.8% in May
Will the Italian bond rally continue?
Will central banks adopt higher inflation targets?
Euro area inflation forecasts show risk of stagnation
Central bankers – tailoring policy to rules or markets?
New Prime Minister of Greece plans reforms, but will they succeed?
Breaking up credit: it’s not you, it’s me…
Investors reassess odds of Italian domino effect
Euro area ESI ticks up as Draghi plans last hurrah
US sentiment indicator highlights investors’ misguided rate expectations
Fathom’s UK ESI highlights risk of economic stagnation
China: heading for the slow lane
Introducing Fathom’s 2019 Q2 forecast: President Trump’s bark is (probably) worse than his bite
Investors remain overly wary of Greek default risk
China’s ticking NPL time bomb
CEI drops sharply amid escalating trade tensions
Charting the FLI path of global growth
Downward trend in Italian sentiment continues
European elections – a first step towards our ‘Golden Scenario’?
US economic sentiment and GDP growth to decline this year
Higher energy prices to boost UK inflation
Are we in for a repeat of the 2008 global financial crisis?
UK ESI suggests underlying economic growth is close to 0.2%
Benign investor reaction reflects limited political risk in Spain
Another false start for Japan as economic sentiment hits multi-year low
Fathom’s Top 10 for 2019 Q1
China: caught between a rock and a hard place
CEI reflects optimism over US/China trade deal
US policy stance to return to neutral this year
Euro area expected to grow at a moderate pace in the first quarter
Upside US GDP surprise in store amid sentiment perk
What to expect from long-term expected returns — Fathom edition
Another strong year for the Irish economy
Fathom’s CMI holds steady as growth is prioritised over reform
UK inflation bucks the European trend
Rates too low according to Taylor rule
Investors see low risk of break-up as European elections near
Does China threaten US hegemony?
UK ESI continues to fall
Stalling market liquidity at odds with sustainable market rally
On gaming, Brexit, and the importance of looking around corners
Euro area sentiment ticked up in February
Central banks blink as outlook dims
US economic sentiment failed to rebound in February following shutdown
Fathom’s SFI highlights risks in Turkey and Argentina
Smart Beta 2.0 — rise of the machines
Euro break-up fears receding as currency’s popularity rises
Introducing Fathom’s 2019 Q1 forecast: Stepping back from the edge?
Trade war on pause, but new era of tension here to stay
UK economic optimism close to six-year low
Euro area sentiment: mind the gap
Fathom’s Top 10 for 2018 Q4
Fathom’s CMI hovers around 6%
US recession still some way off despite weaker economic sentiment
China using capital flows to leapfrog up the global value chain
Falling inflation to help boost domestic demand
The Ionian divide ― lessons from Fathom’s indicators
China’s data mask hidden underemployment problem
Credit market success breeds complacency
Euro area nowcast suggests slowdown continued in Q4
UK ESI falls to lowest level since the EU referendum
Market turmoil hits US economic sentiment but recession still some way off
Fed pause raises the prospect of ‘one last party’ in global asset markets
Japanese sentiment clouded by global uncertainty
China is slowing, but it is not a consequence of rebalancing
UK inflation — still standing at the Brexit crossroads
A symbolic moment as UK house price inflation falls to 0.5%
Fathom’s 2018 scorecard
Italy’s fiscal resolution aims to soothe markets
New year, new EU
Fathom global outlook: feel the market
Focus on the ESI, not the Fed, for your holiday cheer
‘Old-model’ tactics halt China’s economic growth slowdown – for now
Global economy still has not learned to FLI
CEI reflects see-sawing trade tensions
Do they know it’s value time at all?
Time to lay off the monetary meds
ECB to end QE despite weak inflation
Italy – not all roads lead to default
Fathom’s UK ESI points to weaker economic activity in Q4
Time to lay off the monetary meds
When markets are wrong – lessons from Fathom’s SFI
Introducing Fathom’s 2018 Q4 forecast: Time to party like it’s 1989?
US business confidence slipped ahead of midterm elections
China’s ‘grey rhino’ threat
Made in China, exposed by RiCArdo
A flick about FLiq
Lessons from Fathom’s inflation models
Has euro area contagion risk returned?
US midterm elections not a game changer for the economy
Policy prescriptions for the Irish economy
Asset allocation: taking stock and dodging smoking barrels
Euro area economy likely to have grown by 0.4%
US Q3 GDP preview: another four handle amid buoyant sentiment?
A global recession is coming: here’s why
China’s hokey-cokey approach to reform
Japan: sentiment rebounds slightly in Q3
UK inflation set to fall after August blip
Euro area: set to catch a cold?
Italy: loosening the purse strings
US-listed firms with China exposure underperform their peers
EMs – fine now, cry later
Budget uncertainty weighing on Italian sentiment
Timeout for US small caps?
Time to batten down the hatches?
Business and consumer surveys support our bullish US GDP growth call
Rising above the labyrinth of financial noise with the FLI
China: old model still doing the heavy lifting
Italy – markets remain on edge but not routing yet
Introducing our Q3 forecast: Fathom’s 2020 vision
UK economic sentiment stable despite rising uncertainty
Sovereign crisis risks in emerging markets
The ‘is’ and the ‘ought’ of net trade
US firms and consumers a little less optimistic, but growth outlook positive
Why oil might approach $20 per barrel
Italy back in the spotlight as EA sentiment remains elevated
Made in China; taxed in the USA
The outlook for G4 inflation
Italy to buck the trend as ECB plans to tighten policy
Greece – another can kicked down the road
China prioritises short-term growth
Unconvincingly ‘hawkish’ UK Inflation Report
Measurement issues cannot explain the productivity slowdown
What to make of US benchmark GDP revisions
UK economic sentiment slipped back a little in June
The outlook for ECB policy
ECB remains on course; economic outlook unchanged
Euro area ‘nowcast’ model points to rebound in GDP growth
Japan’s ESI slips for a second consecutive quarter
Liquidity trends at the FLIQ of a finger
Measuring trade tensions with our China Exposure Index
Trade wars — it’s all in the game
The UK and euro area – will inflation continue to converge?
What goes down must come up
Fathom’s UK ESI bucks the recent downward trend
New insights into EU migration
Trade and the theory of second best
China’s latest power grab — all hot air?
China’s economy continues to slow
Italy – the relative calm after the storm
UK growth revisions — some plain facts
Introducing Fathom’s Q2 forecast: Hurry up please, it’s time!
Fathom’s UK ESI loses further steam
Political uncertainty drags down EA economic sentiment
Global equities are 40% overvalued — who is vulnerable to a correction?
US economic sentiment drops in April amid trade concerns
Reconciling UK inflation forecasts
France’s digital economy needs to hit restart
Bank overly sanguine on UK growth outlook
Greece – a good time to say goodbye?
Is the euro forever and always?
Economic activity in China continues to slacken
Sweet leverage: dieting now versus toothache later
UK’s economic slowdown gathers pace
Are markets mispricing sovereign credit risk in India and Russia?
What is the Bank of England credit conditions survey telling us?
Fathom’s UK ESI confirms that the damage is already done
Japanese economic sentiment still outstripping GDP growth, but has it peaked?
QE: the theory and the evidence
US economic sentiment close to record high in March despite trade fears
Why is Fathom so pessimistic on UK growth?
Output data confirm weakening UK growth outlook
May – not a FIT-ting time to hike?
Fathom’s EA Economic Sentiment Indicators down, but not out
China’s rebalancing is still just a dream
The European dominos: standing tall for now
FANG-ache? The macro dentist will see you now
Probability of house price correction in China rising fast
Is the German economy overheating?
Trade war? What trade war?
Ireland: the MINI economy
What goes up must come down
BoE’s MPC doubles down, but a rate hike in May is not nailed on
Is it the euro area’s time to shine?
Equity outlook: valuations through a macro lens
US economic sentiment soars after tax reform and strong jobs growth
A global trade war remains an outside risk, despite US tariffs
The dawning of a new error?
Fathom’s UK ESI limps into the New Year
US economic outlook remains positive, despite mixed data
Europe’s ‘Super Sunday’
Tax cuts to drive US wages higher
Introducing Fathom’s latest quarterly forecast: what’s new?
UK inflation set to moderate in 2018
Is the German economy overheating?
‘Hawkish’ MPC too sanguine about the prospect of a sharp slowdown in growth?
FMPI confirms record policy stimulus behind Europe’s strong cyclical upturn
US GDP report highlights strong domestic economy
Banking and sovereign debt reforms essential to the euro area’s future
UK GDP better than anticipated, but Brexit weighs on the domestic economy
Japan’s ESI edges higher, but it is too soon to declare victory
Neither UK investment – nor export-orientated growth will save the day
Review of the year
Euro area: periphery spreads set to rise in 2018
Stronger growth and improved resilience
Spotting UK recessions
How technological change drives inequality
China residential property: keep starting, but stop finishing
The Phillips curve — rumours of its death are greatly exaggerated
Equity prices — beware of a correction
Globalisation’s downward pressure on prices set to ease
The Phillips curve — rumours of its death are greatly exaggerated
Merkel and Macron — Europe’s ‘golden scenario’?
Italy and the itcoin — beware the Ides of March
Spotting UK recessions
ECB: a deposit facility for the many, not just the few?
November strategy outlook
The UK MPC puts its faith in the Phillips curve
Global outlook 2017 Q4: the fundamental things apply
Europe’s dizzying debt dynamics
Sovereign fragility: did you miss me?
The rise of American zombies
What are the odds that Brexit and recession cost Mrs May her job?
Falling star?
How Trump’s revised tax plan might unfold
Too close to the state to fail
Catalonia: a constitutional Classico
Emerging market rally still has legs
The UK consumer squeeze begins to bite
Global outlook: it’s a mad, mad, mad, MAD world
Falling star?
The rise of American zombies
Central bankers ignore the elephant in the room
Solid foundations for Spain’s recovery
Is Greece finally out of the woods?
Japan’s GDP – nothing more than a sugar high
Labour market reforms top of the agenda for Mr Macron
UK MPC tries to have its cake and eat it
Fixed income and currency Q3 outlook
ECB – why this time will be different
Our expanded China Momentum Indicator shows growth rebounding – for now
India: despite medium-term uncertainty, a bright near-term outlook
Odds of a UK recession are now greater than even
Equity investors are not worried about a US/China trade war
Globalisation: it’s not over yet
Trump’s troubles: can the US economy still reach escape velocity?
US auto debt: a look under the bonnet
Don’t forget about Italy
It’s the Phillips curve, stupid
China is due a banking crisis
UK Election: exciting politics; dull economics – probably
Emerging market debt: a problem?
Germany’s residential property market – bubble or investment opportunity?
Monetary policy: when debt can do no more
How a quicker pace of tightening by the Fed would affect the US economy
Fathom’s Economic Sentiment Indicators explained
Dissecting France’s productivity performance
Euro area Economic Sentiment Indicator round-up
Have we passed peak protectionism? And if so, what’s next?
US GDP: where is all the growth?
Emerging markets: get in or get out?
Fathom’s Economic Sentiment Indicators explained
US – China summit: let the games begin!
Botched US healthcare reform – how worried should we be?
China needs fiscal reform to rebalance
Productivity puzzle: the drugs don’t work
Trump Lite or Donald Dark?
Helicopter money — a primer
The UK’s housing bubble: ready to pop?
The fantasy and the reality of China’s economic rebalancing
A two-child policy for China: A case of too little, too late?
Rebalancing is not the cause of China’s slowdown
UK GDP is the best predictor of UK GDP, literally
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