Pantheon Publications
Below is a list of our Publications for the last 5 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep.
Please use the filters on the right to search for a specific date or topic.
ian shepherdson (Chief Economist, Chairman and Founder) Andrés Abadía (Chief LatAm Economist)
- In one line: Agricultural rebound masks broad-based weakness.
Andrés Abadía (Chief LatAm Economist)Global
- In one line: Agricultural rebound masks broad-based weakness.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Consumption resilient amid headwinds, but confidence wavers as external risks build.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: The BCCh holds fire, as global risks intensify.
Andrés Abadía (Chief LatAm Economist)Global
- In one line: The BCCh holds fire, as global risks intensify.
Andrés Abadía (Chief LatAm Economist)Latin America
- US - Payroll growth is unlikely to have slowed decisively as soon as April
- EUROZONE - PMIs sink as domestic demand falters; EZ–US trade surplus jumps
- UK - Wages stay strong and inflation heading to 3.5% in April
- CHINA+ - Chinese policymakers keep heads down, focusing on domestic issues
- EM ASIA - Easter rewind: the start of tougher times for Indonesian exports
- LATAM - Persistent inflation pressures in Brazil challenge COPOM’s roadmap
ian shepherdson (Chief Economist, Chairman and Founder)Global
- Colombia’s suspension from the IMF’s Flexible Credit Line marks a turning point in its economic trajectory.
- The move is technically temporary, but it reflects deep fiscal vulnerabilities.
- BanRep is likely to hold rates as the FCL suspension raises policy constraints and market pressures.
Andrés Abadía (Chief LatAm Economist)Latin America
- February’s IGAE rebound brought short-term relief but failed to alter Mexico’s waning growth trajectory.
- External trade tensions and domestic political uncertainty continue to weigh heavily on capex.
- Government growth forecasts are disconnected from prevailing conditions, with recession risk high.
Andrés Abadía (Chief LatAm Economist)Latin America
- Inflation pressures in Brazil deepened in April, driven by food and healthcare, with risks tilted upwards.
- The BCB will hike on May 7 as it battles sticky services inflation; will it move to the sidelines thereafter?
- Fiscal fragility and currency volatility complicate the policy mix, threatening inflation and market stability.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Retail momentum softens in February after January’s rebound.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico’s surprise inflation rebound in early April reflects temporary shocks…
- …Primarily the lagged effect of MXN depreciation, rather than a fundamental shift in the inflation trend.
- Retail sales point to a broader slowdown in domestic demand, despite a better-than-expected Q1.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil — Uncertainty and fiscal risks resurfacing
- Mexico — Reforms and trade noise persist
- Colombia — Reform gamble deepens risks
Andrés Abadía (Chief LatAm Economist)Latin America
- US - Few alarms yet in high-frequency data; business surveys weaker
- EUROZONE - A dovish, but also conditional, pivot from the ECB
- UK - Wages stay strong and inflation heading to 3.5% in April
- CHINA+ - China’s strategic pivot to ASEAN in the face of tariff pressures
- EM ASIA service is on holiday this week; returning next week
- LATAM - Mexico’s industrial rebound masks structural weakness and policy risks
ian shepherdson (Chief Economist, Chairman and Founder)Global
- Colombia’s economic rebound continues, thanks to falling inflation and resilient services…
- …But other sector performances remain uneven and fragile, and financial volatility poses a growing risk.
- The US–China trade war is a threat to key exports and investment; domestic policy options are narrowing.
Andrés Abadía (Chief LatAm Economist)Latin America
- In LatAm, Mexico is by far the most exposed to US tariffs and global economic slowdown risk.
- Commodity-price declines and Chinese weakness add fresh headwinds to regional export growth.
- Currency volatility, weaker remittances and soft capex will drag, but rate cuts offer relief.
Andrés Abadía (Chief LatAm Economist)Latin America
- Argentina has begun to dismantle the ‘cepo’, marking an historic shift towards currency normalisation.
- The FX liberalisation narrows gaps, boosts confidence and marks a break from past interventionism.
- Short-term inflation risks prevail, but fiscal and monetary tightening are restoring macro discipline.
Andrés Abadía (Chief LatAm Economist)Latin America
- US - Stagnation still lies ahead, as the trade war narrows, but deepens
- EUROZONE - The ECB will cut by 25bp this week but offer little guidance
- UK - Week in review: GDP jumps in February but tariffs will hurt growth
- CHINA+ - Beyond tit-for-tat tariffs: what Xi’s China is really fighting for
- EM ASIA - ‘Factory Asia’—ex-China—won’t break, even if April 9 tariffs return
- LATAM - Brazil battles inflation as activity surprises and fiscal risks linger
ian shepherdson (Chief Economist, Chairman and Founder)Global
- February’s surge in Mexican industrial output likely reflects temporary front-loading to beat tariff risk.
- Long-term nearshoring prospects clash with short-term volatility and tightening financial conditions.
- Global trade tensions and currency volatility drove BCRP’s decision to hold interest rates steady.
Andrés Abadía (Chief LatAm Economist)Latin America
- Inflation in Brazil exceeded expectations in March, due mainly to food, as weather and supply shocks persist.
- Activity data point to solid momentum, but industrial output is dropping and leading indicators softening.
- Fiscal risk and BRL weakness complicate COPOM’s task, despite signs of inflation pressures easing ahead.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Rising food prices and FX volatility rekindle inflation risks amid slowing domestic demand.
Andrés Abadía (Chief LatAm Economist)Global
