Global Publications
Below is a list of our Global Publications for the last 5 months. If you are looking for reports older than 5 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.
Claus Vistesen (Chief Eurozone Economist) ian shepherdson (Chief Economist, Chairman and Founder)
- In one line: Core is too strong for another rate cut in Q4.
- US - What’s at stake if the AI boom turns to bust?
- EUROZONE - We’re lifting our Q3 GDP growth forecast for France
- UK - GDP likely unchanged in August as industrial output drags on growth
- CHINA+ - Renewed US-China trade tensions highlight fragility of their relations
- EM ASIA - A rude, if long overdue, awakening for the BSP’s talk of a “sweet spot”
- LATAM - BraMex inflation: diverging paths, same cautious central banks
- US - Most alternative indicators of payrolls are garbage
- EUROZONE - Swiss inflation is low and set to fall, but the SNB will ignore it
- UK - H1 growth well-balanced, if we smooth through front-running
- CHINA+ -Japan’s likely new prime minister could lead the BoJ to delay rate rise
- EM ASIA - Still a matter of when, not if, the RBI will cut again; we look for December
- LATAM - BanRep holds rates as inflation persists, fiscal weakness deepens
- US - September payrolls likely rose only modestly, despite favorable seasonals
- EUROZONE - SNB stands pat; we now think the easing cycle is over
- UK - Consumers’ confidence staying resilient despite the headwinds
- CHINA+ - Japan’s manufacturing sector yet to see tariff relief, despite US deal
- EM ASIA - Indonesia’s finance minister sets himself up for failure with budget
- LATAM - Banxico eases amid fragile growth, inflation, and trade uncertainty
- US - FOMC likely to ease a further 50bp this year, but expect close votes
- EUROZONE - We’re lifting our EURUSD forecast, but not enough for a rate cut
- UK - Week in review: Sticky inflation and questionable slack
- CHINA+ - Xi-Trump call: Trust rebuilding, finer TikTok details still being ironed out
- EM ASIA - Three consecutive surprises from BI and we expect another in October
- LATAM - Copom holds Selic but normalisation path emerging; Argentina in trouble
In one line: That’s more like it, but upturn in manufacturing is on borrowed time.
In one line: Political brinkmanship comes at a cost.
In one line: All set for a rebound into year-end.
- US - FOMC too nervous about inflation to endorse the market curve
- EUROZONE - Closer to an estimate for the Q1 2026 fall in German energy prices
- UK - CPI preview: nudging up to 3.9% in August as food prices jump
- CHINA+ - China’s ailing domestic demand likely to prompt targeted support
- EM ASIA - EM Asia laggards won’t chip away at the Asian Tigers’ chip dominance
- LATAM - Brazil economy weakens as tight policy and tariffs weigh heavily
In one line: The ECB is happy at 2%, for now.
In one line: ECB doves need better persuasion skills.
- US - Payrolls warrant much looser policy, but 50bp next week is unlikely
- EUROZONE - Swiss inflation details are dovish; SNB rate cut to -0.25% still on
- UK - GDP likely unchanged month-to-month in July
- CHINA+ - China’s exports lose steam on low-techs; slump in US exports persists
- EM ASIA - Confident BNM holds fire on further easing, following July cut
- LATAM - Mexico’s economy holds steady, but capex weakness and trade risks persist
- In one line: The end of September rate cut hopes.
- US - August payrolls likely will maintain the pressure for looser Fed policy
- EUROZONE - ECB’s easing cycle is over; risks now tilting to rate hikes, in 2027
- UK - Insolvencies holding steady despite the barrage of headwinds
- CHINA+ - Chinese manufacturers tolerate tariff shifts, but small firms struggle
- EM ASIA - BI’s urgency to cut faster since July in context; expect at least one more
- LATAM - Banxico slows pace of easing as core inflation pressures persist
- US - We think a September easing will be the first of many
- EUROZONE - Germany is balancing on the edge of recession and recovery
- UK - Week in review: August rate cut looks increasingly like a mistake
- CHINA+ - Japan’s inflation elevated, with no easy cure for rice-price headache
- EM ASIA - BI’s urgency to cut faster since July in context; expect at least one more
- LATAM - Our LATAM team is on leave this week, publication will resume on Sep 2nd
- US - Consumption growth is stabilizing, at a sluggish pace
- EUROZONE - EZ goods trade surplus nears zero as US exports continue to slide
- UK - Stabilising jobs and strong wage gains limit the MPC’s room to cut
- CHINA+ - China’s domestic demand swoons in the scorching summer heat
- EM ASIA - A fairly decent Q2, but Thai GDP growth will now slow more sharply
- LATAM - Banxico slows pace of easing as core inflation pressures persist
- US - Pass-through from the tariffs slows, but is not complete yet
- EUROZONE - What can a New Keynesian Phillips curve say about EZ inflation?
- UK - The MPC are cautious, we expect no more rate cuts this year
- CHINA+ - Chinese exporters less willing to absorb higher tariffs in their margin
- EM ASIA - Philippines’ market-beating Q2 GDP doesn’t stand up to scrutiny
- LATAM - Banxico slows pace of easing as core inflation pressures persist
- US - Dire July employment report makes a September easing far more likely
- EUROZONE - Our ECB and SNB rate cut calls now hang in the balance
- UK - Payroll falls should ease as tax hike drag begins to fade
- CHINA+ - China’s Politburo strikes confident tone about trade risks
- EM ASIA - Taiwan’s retail sales shrink in Q2; downside risk to our 6.4% GDP call
- LATAM - Brazil holds rates steady as tariffs cloud growth and inflation outlook
In one line: A blow for ECB doves and September rate cut hopes.
- US - The slide in the dollar looks like all pain and no gain
- EUROZONE - White smoke in Scotland: the EU and US strike a trade deal
- UK - Payroll falls should ease as tax hike drag begins to fade
- CHINA+ - BoJ official hints at brightening growth outlook after trade deal
- EM ASIA - Taiwan’s retail sales shrink in Q2; downside risk to our 6.4% GDP call
- LATAM - Brazil’s inflation plateaus as demand softens and disinflation forces build
