Macroeconomic Analysis & Financial Market Strategy
Independent top-down macro research and asset allocation strategy for institutional investors — no single-stock recommendations. Independent · Tailored · Transparent.
What we do for you
Research Ahead provides macroeconomic analysis and financial market strategy for professional market participants — researchers, strategists, traders and portfolio managers. We focus on developed economies, on asset allocation across bonds, credit, equities, currencies and commodities, and on interest rate strategy in particular. Where it helps implementation, we translate the market view into concrete trade ideas.
Every research solution is tailored to the client's requirements — in scope, format and frequency.
The six structural drivers
Structural drivers are long-term, deep-seated forces that shape the macroeconomic environment and financial markets over years — independently of the ups and downs of the business cycle. They alter growth paths, price levels, interest rates and the relative attractiveness of entire asset classes, and thus form the frame within which short-term market moves play out.
- Artificial Intelligence — technological transformation and a capex boom: real, physically constrained and initially inflationary
- Geoeconomics — the politicisation of trade and capital flows, and the formation of blocs
- China Shock 2.0 — industrial policy, overcapacity and an export offensive that pressures Western industry
- Productivity — structural divergence and the pace of AI adoption
- Demographics — an accelerating decline in birth rates, weighing on trend growth and social security systems
- Fiscal Policy & Debt — adverse debt dynamics, inflationary financing and fiscal dominance
These drivers interlock into structurally higher inflation, rising term premia and a monetary policy that is too loose for the medium term.
Each driver is covered on an ongoing basis in our research offerings.
Services and formats
- Periodic publications on macro, rates strategy and asset allocation
- Presentations, seminars and panel discussions
- Conference calls and regular Bloomberg chats
- White-label research — published under your own name
- Tailored research solutions in scope, format and frequency
Why Research Ahead
- Award-winning. Daniel Pfändler has repeatedly been ranked for his macro and rates research.
- Independent. We do no investment banking, distribute no products and accept no payments from issuers or providers. Our research is purely macro-driven, top-down and free of single-stock recommendations — our only compensation is our clients' fees.
- In the press. Regular columnist for „MeinungsMacher" at Manager Magazin.
- In dialogue. We value the continuing exchange with our clients — questions and disagreement are expressly welcome.
Request research
Talk to us about scope, format and frequency — we will put together a proposal that fits your process.
Note: Our research is intended for professional and sophisticated investors. It contains general macroeconomic assessments and constitutes neither investment advice nor recommendations regarding individual securities.