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
‘Buy America’ Returns As Haven Demand Fuels Dollar Upside
Geopolitical risk has fuelled renewed haven demand for the dollar, which has proved the only shelter for market participants amid recent turmoil.
Market Narratives Diverge As Commodity Shock Triggers Broad De-Risking
Geopolitical tensions have led participants to seek havens, while an energy price shock sees STIRs and Govvies reprice hawkishly, amid signs sentiment may be nearing an extreme.
Preview For The February 2026 Jobs Report
The impact of last year’s deferred resignation program has probably now entirely made its way through the data, pointing to a cleaner read on US labour market conditions.
Geopolitical Events Dominate The Narrative: Energy & Off Ramps The Key Areas To Watch
Markets have reverted to the classic risk-off playbook as Middle East hostilities continue, with focus on oil supply and de-escalation risks.
FX Volatility Could Be Set To Stay Subdued
FX markets remain rangebound with realised and implied vol near lows, even as policy divergence and geopolitical risk build beneath the surface.
US Equity Trading Dynamics In An Environment With A 'Political Put'
A growing ‘political put’ could be distorting market return distributions, raising complacency and increasing downside tail risk.
Indiscriminate Tech Selling Suggests A Degree Of Irrationality
The technology sector, and software names in particular, have taken a battering in recent weeks, as participants appear to grow increasingly concerned that rapid advances in the AI space will erode the competitive advantage that these companies have long possessed.
Equities To Continue Climbing A ‘Wall Of Worry’
Trade uncertainty, AI capex concerns and geopolitics dominate headlines, but fundamentals suggest equities can continue grinding higher.
Supreme Court Strikes Down IEEPA Tariffs
The Supreme Court have, today, largely as expected, struck down the President’s authority to impose tariffs using the International Emergency Economic Powers Act (IEEPA).
The FOMC’s Next Move Won’t Be A Hike Despite Hawkish January Minutes
Minutes from the January FOMC meeting leaned hawkish, though amid downside labour market risks, and continued disinflationary progress, the direction of travel for the fed funds rate is still downwards.
Lagarde Exit Chatter Sparks Succession Race & Heighten Politicisation Concerns
Reports of Christine Lagarde leaving the ECB early raise concerns over central bank independence, succession politics, and risks for the euro and EGBs.
Markets Remain Rangebound As Noise Drowns Out Signal
Rising political volatility and sector shifts mask a simple reality: stocks, the dollar and government bonds have barely moved in months.
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1. Data for the Pepperstone Group, correct as at October 2025.