TS Lombard
Independent global macro research for institutional investors
Delivering global economic forecasting and geopolitical analysis to institutional investors. Our research is built to produce high conviction, off consensus market calls that inform asset allocation decisions.
Macro without permission, since 1989
TS Lombard is the longest-standing independent global macro research provider in Europe. We are based in London with a global team of 15 analysts. In 2016, we merged with a leading specialist in emerging markets and geopolitical research, deepening our coverage across EM economies and political risk.
How we analyze the global economy
Most economic consulting companies treat the world economy as a collection of countries. We do not. TS Lombard looks at the world as one organism driven by three interconnected cycles: the business cycle, the financial cycle, and the political cycle.
Each country has its own version of these. The US, China, and Europe shape the global cycle and it shapes them back. Since 2016, a geopolitical cycle of new intensity has re-entered financial markets.
Understanding it is no longer optional for investors. Our job is to tell clients when economies are driving markets, when markets are driving economies, and when politics are driving both.
Integrated global economic analysis
We start at the top. Our team monitors the performance of the world’s largest economies, global financial flows, business cycles, and country balance sheets. We look at how they interact and produce one view, not a menu of country reports.
One central view, not a range of scenarios
Specialist emerging markets research
Actionable investment strategy and asset allocation
Average 30 years of experience per analyst
The team behind the research
Together, we are the leading provider of independent macro and investment research.
Global macro research services
Global macro forecasting
Coverage across the US, China, Europe, and G10 economics. We cover growth, inflation, monetary policy, and the political forces that drive them.
Publications include Global Macro Monthly, Global Political Drivers, Global Watch, and Macro Picture.
Investment strategy and asset allocation
We translate macro views into actionable recommendations across rates, FX, equities, and credit. Our strategy committee meets monthly to review portfolio performance, assess market pricing against our forecasts, and update recommendations.
Publications include Asset Allocation, Macro Strategy, and our Strategy Chartbook.
Emerging markets research
Weekly and monthly analysis covering China, Brazil, India, South Korea, Taiwan, and Latin America. We cover sovereign risk, policy credibility, capital flows, and the political events that move EM assets.
Publications include EM Watch, EM Strategy Monthly, China Watch, Brazil, and India.
Proprietary economic models and data
TS Lombard research is backed by proprietary tools that most macro research firms do not have. These include models for underlying Chinese GDP and US broad money.
CyclQUEST and ValuQUEST frameworks: Quantitative signals that feed into our Asset Allocation and Macro Strategy publications.
And a global flow of fund analysis published monthly in our Global Financial Trends report.
Why institutional investors choose GlobalData TS Lombard
“The work I think is the best on the street. Not an exaggeration. Form and substance, but substance above all.”
John Heffern, KCA/Princeton Advisors LLC, New Jersey, USA
You always know where we stand
A macro view that was right six weeks ago may be wrong today. TS Lombard is built to keep pace with markets.
Our analysts committee meets weekly to debate the main issues and update our calls. Asset allocation recommendations are reviewed monthly. Regional teams on China, the US, Europe, and EM meet every week.
If our view changes, you’ll know before the market prices it in.
GlobalData TS Lombard: Perkins Vs Beamish
Each week, Chief Economist Freya Beamish and Managing Director of Global Macro, Dario Perkins, answer three of the questions clients are actually asking.
No prepared statements. No consensus handholding. Two economists with different views, working through what is moving markets.
Ready to see the research?
Speak to our team to request a trial or discuss access
