Welcome to Lombard Street Research

We provide independent macroeconomic forecasting and analysis to asset managers, banks and global corporations around the world. For almost twenty years we have helped institutions improve their investment thinking, their returns and their management of risk.

The key foundation of our research is monetary economics. Fundamental analysis of trends in money and credit, banking systems and flows-of-funds provide unique insights into economic developments and into likely movements of financial asset prices.

"You don’t have to worry about models; I’m not the slightest bit interested in these fancy models. What I am interested in, is understanding monetary economics and financial history."   Mervyn King, Governor of the Bank of England, February Inflation Report Press Conference.

See our latest Special Report,  Sovereign Rescues - How the forgotten financial crisis of 1914 compares with 2008 - 2009.
In this Special Report financial historian Richard Roberts has unearthed an incredible story from the past, while Brian Reading and Leigh Skene draw parallels with today’s crisis.

02 Jul 09 UK Bulletin UK plc. - a stellar performance in this recession WE SUGGEST: £ looks good vs. € SUMMARY: UK non-financial firms appear to have come through this recession in remarkably good shape. Despite a collapse in real GDP, non-financial corporate profits have fallen far less than in either of the two previous recessions. Considerable labour market flexibility has left firms able to slash labour costs quickly, in stark contrast to the desperate position companies in Continental Europe and Japan find themselves in. (Jamie Dannhauser)

02 Jul 09 Daily Notes Merkel forecasts huge rise in German exports WE SUGGEST: € weakness necessary SUMMARY: The German Chancellor has said that exports will fall by €100 billion in 2009.... 01 Jul 09 GIO Update Aussie yields have risen far enough Australian 5y, 5y forward swap rates, unusually among developed economies, stand above the average for the current decade. We... 01 Jul 09 Asset Allocation: Americas Groundless inflation talk threatens recovery In Q2 global equities enjoyed one of their largest ever quarterly gains, rising around 23% and pulling back from discounting ...