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
April 2026 BoE Review: Standing Pat For Now
The Bank of England stood pat at the April meeting, holding Bank Rate steady, albeit via a split decision, with Chief Economist Pill dissenting in favour of a 25bp hike. Policy guidance was little changed, while the various scenarios outlining how the economy may evolve are too disparate to provide any signal at all.
April 2026 FOMC Review: Jay’s Last Hurrah
The FOMC stood pat, as expected, at the April meeting, with policy guidance unchanged, as Chair Powell prepares to pass the baton to Kevin Warsh, though the prospect of easing remains on the cards later this year, dependent on how geopolitical events evolve.
UAE Quits OPEC - Quick Thoughts
The UAE's decision to quit OPEC/OPEC+ is a major event for global energy markets in the long-run, but one that is likely to have little by way of major short-term implications, with the Strait of Hormuz remaining impassable.
Warsh’s Balance Sheet Views Make Rate Cuts A ‘Need’ Not A ‘Want’
Kevin Warsh’s desire to shrink, and tidy up, the Fed’s balance sheet can work; however, enacting those shifts will necessitate a lower fed funds rate, in order to maintain the overall policy stance. Convincing his new colleagues of this view, though, could prove challenging.
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.
March 2026 UK Inflation: The Energy Shock Starts To Arrive
Today's UK inflation figures gave the first indication of how the recent surge in energy prices is beginning to impact the UK economy.
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.
February 2026 UK Jobs Report: A Mixed Bag
This morning's UK labour market report pointed to a mixed employment picture in February.
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.
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1. Data for the Pepperstone Group, correct as at October 2025.