Archive
Browse market commentary, macro analysis, and student-led reporting.
Macro21 Apr 2026
Disruptions in the Strait of Hormuz are exposing the fragility of global trade, raising the risk that decades of hyper-globalisation begin to fragment.
Global TradeGeopoliticsShippingGlobalisation
Matthew Mahrous6 min read
Read ArticleMacro21 Apr 2026
The Iran war handed the Bank of Japan a policy trap it cannot easily escape. Holding rates to avoid a growth shock is letting the yen slide toward levels that historically trigger intervention. Hiking to defend the currency risks making the growth shock worse.
Japanese YenBank of JapanFXIranMonetary PolicyStagflation
Raghu Kohli8 min read
Read ArticleThe war in Iran is testing the informal bargain that has let America borrow cheaply for half a century. The allies whose cooperation sustains that privilege had no say in the conflict, yet they are bearing its economic cost.
IranFederal ReserveInterest Rates
Jack Childs16 min read
Read ArticleThe MPC meets on 30 April facing a textbook stagflationary bind. The evidence favours holding steady over a premature hike.
Bank of EnglandInterest RatesInflationIran WarUK Economy
Rohan Talwar11 min read
Read ArticleMacroCurrent Affairs28 Mar 2026
Oil prices are being driven by geopolitics, not fundamentals, raising doubts over whether this is real scarcity or just a temporary risk premium.
CommoditiesGeopoliticsOilBackwardation
Matthew Mahrous4 min read
Read ArticleHow tensions involving Iran are driving energy prices and reshaping UK politics.
IranInflationConsumer ConfidencePolitical LandscapeUK Economy
Josh Dolan2 min read
Read ArticleSix central bank holds in 48 hours, Brent crude approaching $96, and a US-Iran military conflict have shattered the consensus rate narrative of early 2026, resetting the dollar, the yen, and the entire FX outlook.
FXFederal ReserveBank of EnglandBank of JapanOilGeopoliticsUS Dollar
Raghu Kohli6 min read
Read Article