Michael Brown
Senior Research Strategist
Michael Brown is a seasoned, award-winning market analyst, with a record of providing pertinent commentary, analysis, and forecasting across all major asset classes, principally through a global macro focus, over a decade in the financial services industry. He frequently appears in a wide range of UK and international media, discussing major risk events, key market trends, and broader macroeconomic themes. Michael holds an Executive MBA from Cranfield University.
Most recent articles
It’s Not Only Geopolitical Hopes Driving The Equity Rally
While many see geopolitical hopes as the sole driver of recent equity gains, the positive catalysts are in reality more numerous, as AI enthusiasm returns, and earnings season progresses in solid fashion.
Stocks Aside, Markets Are Going Nowhere Fast
While equities print record highs, markets elsewhere are trading in much more turgid fashion, as participants hunt for the next tradeable theme, amid mounting expectations for a deal to end conflict in the Middle East.
April 2026 BoE Preview: The Old Lady Set To Stay On Hold
The Bank of England’s Monetary Policy Committee are set to stand pat once more at the April meeting, maintaining all policy settings, and continuing with a ‘wait and see’ approach in light of the fluid economic outlook, amid the recent surge in energy prices, and conflict in the Middle East.
Warsh's Nomination Hearing Augurs For A Risk-Friendly Fed
Kevin Warsh's Fed Chair nomination hearing has helped flesh out expectations for how he may helm the world's most important central bank, and cemented a view that a risk-friendly Fed will remain.
April 2026 ECB Preview: Waiting For More Information
The ECB will likely stand pat at the conclusion of the April meeting, as the Governing Council continue to seek further data on the macroeconomic impact of conflict in the Middle East. While explicit guidance towards policy tightening is unlikely, a significant debate on that issue, at the next meeting in June, seems somewhat inevitable.
A Virtuous Cycle For Equities May Be A Vicious One For Labour
Record equity highs continue to diverge from softer economic fundamentals, with rising productivity, limited labour cost growth, and sustained buybacks driving a virtuous cycle for stocks, while reinforcing a more fragile, increasingly K-shaped economic backdrop.
April 2026 FOMC Preview: Still In ‘Wait & See’ Mode As Powell’s Departure Nears
The FOMC are set to hold all policy settings steady at the conclusion of the April meeting, remaining in ‘wait and see’ mode amid a fragile labour market backdrop, and an uncertain inflationary outlook as a result of conflict in the Middle East.
Q1 26 ‘Magnificent Seven’ Earnings Preview
First quarter earnings season is now well underway. With the big banks having reported largely solid results, focus now turns to other sectors, with the tech sector soon to be in the spotlight, as the ‘Magnificent Seven’ get set to deliver first quarter figures.
Equities Price An End To Middle East Conflict, But Sector Dispersion Persists
While the S&P 500 has now erased losses seen since the start of conflict in the Middle East, less than half of the index’s sectors have done the same, suggesting significant room for select areas of the market to play ‘catch up’.
Markets Say "Could Be Worse" On News Of Hormuz Blockade
While crude has advanced, and stocks slipped a touch, the overall market reaction to the weekend news of a US Navy blockade of the Strait of Hormuz has been relatively contained, as participants view the move largely as a negotiating gambit from President Trump.
Q1 26 Energy Earnings Preview
In light of the recent surge in energy prices, and amid the ongoing disruption caused as a result of conflict in the Middle East, earnings, and associated commentary, from energy majors, will be a key focus for market participants in the upcoming Q1 26 earnings season.
March 2026 US CPI: The Energy Shock Arrives
March’s US CPI report provided the first evidence as to the inflationary impact of higher energy prices, stemming from conflict in the Middle East, though the near-term policy implications of the data are likely lacking.
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1. Data for the Pepperstone Group, correct as at October 2025.