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Artwork for The Macro Brief by HSBC Global Research

The Macro Brief by HSBC Global Research

HSBC Global Research
Inflation
Tariffs
Artificial Intelligence
China
Federal Reserve
Emerging Markets
UK Economy
India
United States
Global Economy
Germany
European Central Bank
Gold
S&P 500
Bank Of England
US Dollar
Interest Rates
Monetary Policy
European Economy
Fiscal Policy

A weekly update on key macro issues influencing developed and emerging markets around the world. Our economists, strategists and analysts share their insights, views and ideas to help guide your outlook. Subscribe now.

For more from HSBC Global Research, email us at AskResearch@hsbc.com

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Artwork for The Macro Brief by HSBC Global Research

Latest Episodes

Following the European Central Bank’s first rate hike for nearly three years, Chris Hare, Senior European Economist, looks at whether there is more tightening to come.

For more content from HSBC Global Investment Research, just search for #HSBCResear... more

With the US’s 10% global tariff set to expire this July, Shanella Rajanayagam, Trade Economist, looks at which US tariffs are currently in effect - and what could be coming down the line.

For more content from HSBC Global Investment Research, just se... more

From the rise of anti-obesity drugs to the impact of AI, Rajesh Kumar, Senior Global Life Sciences & Healthcare Analyst, looks at how the global healthcare industry is evolving at pace.

For more content from HSBC Global Investment Research, just sear... more

Janet Henry, Global Chief Economist, and Simon Wells, Chief European Economist, look at how central banks are set to react to growing upside risks to inflation and downside risks to growth.

For more content from HSBC Global Investment Research, just ... more

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Recent Guests

Shanella Rajanayagam
Trade Economist
HSBC Global Investment Research
Episode: State of US tariffs
Rajesh Kumar
Head of Life Sciences and Healthcare Equity Research
HSBC Global Investment Research
Episode: Future healthcare in focus
Janet Henry
Global Chief Economist
HSBC Global Research
Episode: Rate rises on the radar
Simon Wells
Chief European Economist
HSBC Global Research
Episode: Rate rises on the radar
Saul Martinez
Head of US Financials Research
HSBC Global Research
Episode: What will a Warsh Fed look like?
Paul Mackel
Global Head of FX Research
HSBC Global Investment Research
Episode: The dollar bounces back
Murat Ulgen
Global Head of Macro Strategy
HSBC Global Research
Episode: Testing emerging market resilience
Daniel Lavarda
Head of economics research in Brazil
HSBC Global Research
Episode: LatAm’s moment?
Jose Carlos Sanchez
Mexico economist
HSBC Global Research
Episode: LatAm’s moment?

Hosts

Piers Butler
Host of The Macro Brief
Aline van Dijn
Host of The Macro Brief

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Talking Points

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Future healthcare in focus
Q: How is artificial intelligence reshaping healthcare?
He notes that while investors are cautious, AI has potential to accelerate drug discovery, improve diagnostics, and optimize patient management, with the strongest impact in identifying patients who need treatment and expanding access in remote areas.
Future healthcare in focus
Q: So Rajesh, why is there so much investor focus on healthcare today?
Rajesh explains that breakthroughs in cancer therapies and obesity drugs, along with AI-enabled diagnostics and the shift toward oral, patient-friendly therapies, have created a wave of investor interest in the sector.
Rate rises on the radar
Q: Is it just that everyone is hoping the Strait of Hormuz will reopen, and therefore their assumption regarding the duration of the conflict is still relatively optimistic?
Yes, reopening would ease supply constraints, but even then it would take time for markets to normalise, with lagged effects on oil flows and insurance costs; overall, the path to normalisation remains gradual and uncertain.
Containers and crude
Q: How significant is the inventory picture in shaping near-term price dynamics?
Global inventories could fall sharply—by hundreds of millions of barrels between March and June—creating a large draw and keeping downside risks in check only if restocking and supply resilience occur in the coming months.
Containers and crude
Q: What likely happens to the oil price if a peace deal is reached soon, and how long until a return to normal?
Our base case suggests a gradual price path back toward normal, with Brent rebalancing slowly as Hormuz traffic and Gulf output restart from mid-June and near-normal flows by end of Q3, acknowledging that the physical restart will lag the deal and take time.

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Frequently Asked Questions About The Macro Brief by HSBC Global Research

What is The Macro Brief by HSBC Global Research about and what kind of topics does it cover?

This show provides practical, data-driven macro analysis from HSBC Global Research, focusing on how global economics, inflation dynamics, monetary policy, energy markets, and geopolitical shifts shape asset markets across developed and emerging economies. Episodes frequently feature HSBC economists and strategists offering scenario analysis, regional deep dives (Latin America, Europe, EMs), and actionable takeaways for investors and corporate decision-makers. A recurring strength is linking policy signals, energy dynamics, and currency movements to risk premia, cross-asset implications, and the trajectory of growth. The format leans into clear, top-line insights plus tactical considerations for traders, asset allocators, and corporate strat... more

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1. Under the Banyan Tree by HSBC Global Research
2. At Any Rate
3. Global Data Pod
4. The Markets
5. Making Sense

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The Macro Brief by HSBC Global Research launched 3 years ago and published 145 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on The Macro Brief by HSBC Global Research?

Recent guests on The Macro Brief by HSBC Global Research include:

1. Shanella Rajanayagam
2. Rajesh Kumar
3. Janet Henry
4. Simon Wells
5. Saul Martinez
6. Paul Mackel
7. Murat Ulgen
8. Daniel Lavarda

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