The Macro Brief by HSBC Global Research

Paul Mackel, Global Head of FX Research, looks at how the currency markets have reacted to geopolitical tensions.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https:https://www.research.hsbc.com/R/101/WsVqFks Hosted on Acast. See acast.com/privacy for more information.

Janet Henry, Global Chief Economist, looks at what the unprecedented energy shock means for the economic outlook.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/qQcrkHB Hosted on Acast. See acast.com/privacy for more information.

Murat Ulgen and Ali Cakiroglu look at whether geopolitical developments have dampened investor sentiment towards emerging market assets.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/HDtKZRk Hosted on Acast. See acast.com/privacy for more information.

Joseph Incalcaterra, Daniel Lavarda and Jose Carlos Sanchez from our LatAm team look at what’s behind the pick-up in investor interest in the region.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/7FrWTv2 Hosted on Acast. See acast.com/privacy for more information.

Kim Fustier and Parash Jain look at what the Middle East conflict means for oil and gas prices, transport and logistics.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/S2t9LFw Hosted on Acast. See acast.com/privacy for more information.

Liz Martins, Senior UK Economist, looks at whether a pick-up in the latest data marks a turning point for Europe’s economies.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/hHnMpXx Hosted on Acast. See acast.com/privacy for more information.

Paul Mackel, Global Head of FX Research, looks at what’s causing USD weakness and which currencies could stand to benefit.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/rdpJ66b Hosted on Acast. See acast.com/privacy for more information.

Stephen Bersey, Head of US Technology Research, looks at whether fears that artificial intelligence could upend the business modes of software vendors are justified.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/bHdRBbG Hosted on Acast. See acast.com/privacy for more information.

The economics team takes over the studio this week, with Chris Hare, Liz Martins and Fabio Balboni discussing the latest Bank of England and ECB meetings.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/qtZPtrS Hosted on Acast. See acast.com/privacy for more information.

Ryan Wang, US Economist, and Dhiraj Narula, US Rates Strategist, look at the key issues facing the Federal Reserve this year.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/JlBXX6F Hosted on Acast. See acast.com/privacy for more information.

Following a standout 2025, Ali Cakiroglu, Emerging Markets Strategist, looks at the drivers for EM assets in 2026.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/KbNBtFl Hosted on Acast. See acast.com/privacy for more information.

From the latest innovations to the investment strategies of big tech giants, Nicolas Cote-Colisson, Head of Global Tech Platforms Research, outlines what to watch out for in the tech sector this year.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/CzkHXhS Hosted on Acast. See acast.com/privacy for more information.

From inflation and monetary policy to trade and AI, Janet Henry, Global Chief Economist, looks at the factors set to shape the world economy this year.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on YouTube, Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/tL9dgcP Hosted on Acast. See acast.com/privacy for more information.

Daragh Maher, Head of Digital Assets Research, assesses the latest developments in the digital assets space and outlines what we should be looking out for in 2026.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/9Qd66km Hosted on Acast. See acast.com/privacy for more information.

Our US team identifies key issues to watch in 2026 – from what the Federal Reserve will do next, to whether the AI bubble will burst, to US fiscal friction.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/mVlwHgW Hosted on Acast. See acast.com/privacy for more information.

Can AI trade FX? Is the future 'agentic'? And are we seeing a bubble? Mark McDonald, Head of AI and Data Science, and Yuning Bai, Data Scientist, discuss recent developments in artificial intelligence.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/DkgSvdV Hosted on Acast. See acast.com/privacy for more information.

Liz Martins, Senior UK Economist, and Nick Andrews, Senior FX Strategist, talk through the key takeaways from the UK's highly anticipated budget.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/c6DrlPx Hosted on Acast. See acast.com/privacy for more information.

Paul Mackel, Global Head of FX Research, and Joseph Incalcaterra, Head of LatAm Macro Strategy, look at what's in store for the major currencies in 2026.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/mFbXLNm Hosted on Acast. See acast.com/privacy for more information.

Shiva Joon, Data Scientist, and Duncan Toms, Multi-Asset Strategist, look at how artificial intelligence is helping to drive the stellar performance of many US companies.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/HJJQchf Hosted on Acast. See acast.com/privacy for more information.

James Pomeroy, Global Economist at HSBC, looks at three technologies that could dramatically transform the economy in the longer term - humanoid robots, autonomous driving and quantum computing.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/P2FgHBq Hosted on Acast. See acast.com/privacy for more information.

In this US special, Ryan Wang, US Economist, and Alastair Pinder, Head EM and Global Equity Strategist, discuss the Fed’s next move, the impact of the government shutdown and fears of an AI bubble.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/xfXR9xh Hosted on Acast. See acast.com/privacy for more information.

Fresh from attending the IMF-World Bank annual meetings, Janet Henry, Murat Ulgen and Paul Mackel stop by our New York studio with updates on US resilience, AI, tariffs, EM, defaults and more.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/CXgtlpn Hosted on Acast. See acast.com/privacy for more information.

Sean McLoughlin, Senior Global Industrials Analyst, explains how the boom in AI and cloud computing is fuelling a reacceleration in global capital expenditure.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/B6KLVmt Hosted on Acast. See acast.com/privacy for more information.

Fresh from HSBC's inaugural Brazil Forum, Head of LatAm Macro Strategy Joseph Incalcaterra joins Aline van Duyn to discuss the macro landscape across Latin America's key economies.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/NBdxbGK Hosted on Acast. See acast.com/privacy for more information.

Simon Wells, Chief European Economist, assesses the growth outlook for the region and the contrasting fortunes of the ECB and Bank of England in their bid to tame inflation.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/nFbhDKS Hosted on Acast. See acast.com/privacy for more information.

Janet Henry, Global Chief Economist, looks at how the world economy is muddling through despite substantial challenges, while Ali Cakiroglu, Emerging Markets Strategist, explains why investors are becoming more bullish on EM assets.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/smqScSg Hosted on Acast. See acast.com/privacy for more information.

Daragh Maher, Head of Digital Assets Research, discusses which of the competing visions for digital money could become the most dominant.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/rQFq99n Hosted on Acast. See acast.com/privacy for more information.

Ahead of the Federal Reserve’s September meeting, US economist Ryan Wang assesses the potential pace of interest rate cuts and the implications of the growing US deficit.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/CwxmMFV Hosted on Acast. See acast.com/privacy for more information.

From sticky inflation to precarious public finances, Liz Martins, Senior UK Economist, assesses the UK’s financial troubles as the country looks ahead to an Autumn Budget.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/kMkgkSP Hosted on Acast. See acast.com/privacy for more information.

Alastair Pinder, Head Global and EM Equity Strategist, looks at some surprising connections between AI and tariffs and how they are changing the way companies operate.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/PJdHSbT Hosted on Acast. See acast.com/privacy for more information.

James Pomeroy, Global Economist, examines whether the frontloading of global trade in the first half of the year could unravel as new tariffs kick in.For more content from HSBC Global Investment Research, just search for #HSBCResearch on LinkedIn. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/zDWvnwS Hosted on Acast. See acast.com/privacy for more information.

Chris Hare, Senior European Economist, and Paul Mackel, Global Head of FX Research, talk through the potential implications of the US-EU trade deal.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/wxSxzmw Hosted on Acast. See acast.com/privacy for more information.

With fresh US tariffs due to come into effect on 1 August, Alastair Pinder, Head EM and Global Equity Strategist, looks at how markets are pricing in heightened uncertainty.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/H9vWhSr Hosted on Acast. See acast.com/privacy for more information.

Against a backdrop of continuing uncertainty, James Pomeroy, Global Economist, explains whether the latest data – and the price of bananas - provide any clues about state of the economy.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/6dKvcRB Hosted on Acast. See acast.com/privacy for more information.

Ryan Wang, US Economist, talks through the latest in the US – including “phase two” of tariffs, tax cuts and deficits, and the path of rate cuts.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/DlDVjKM Hosted on Acast. See acast.com/privacy for more information.

With global markets seemingly unruffled by recent shocks, Janet Henry and Simon Wells look at the key risks that could surprise policymakers and investors over the next few months.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/NJkrHwb Hosted on Acast. See acast.com/privacy for more information.

Daragh Maher, Head of Digital Assets Research, demystifies the world of cryptocurrencies and looks at how digital assets could move from niche to mainstream.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/JHXvCjK Hosted on Acast. See acast.com/privacy for more information.

Kim Fustier, Head of European Oil & Gas Research, and Murat Ulgen, Global Head of Emerging Markets, discuss how the conflict between Iran and Israel has introduced yet more uncertainty into financial markets.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/nwbqSGc Hosted on Acast. See acast.com/privacy for more information.

Janet Henry, Global Chief Economist, considers whether tariff uncertainties are starting to feed through into the latest economic data.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/hktsWLP Hosted on Acast. See acast.com/privacy for more information.

Paul Bloxham, our Sydney-based Chief Economist for Australia, New Zealand and Global Commodities, drops by the London studio to discuss how tariff uncertainties and global growth worries are affecting commodity prices.For more content from HSBC Global Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/2scKXzM Hosted on Acast. See acast.com/privacy for more information.

Pranjul Bhandari, Chief India Economist, examines India’s interconnectedness with the global economy and considers whether the redrawing of supply chains could present new opportunities. For more content from HSBC Global Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/bHlntgR Hosted on Acast. See acast.com/privacy for more information.

Alastair Pinder, Head EM and Global Equity Strategist, considers whether America is losing global investor flows following recent market volatility. For more content from HSBC Global Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/vGpnsSF Hosted on Acast. See acast.com/privacy for more information.

Paul Mackel, Global Head of FX Research, examines the changing drivers of the US dollar and its prospects going forward. For more content from HSBC Global Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/xhbSpmX Hosted on Acast. See acast.com/privacy for more information.

German economists Stefan Schilbe and Anja Heimann consider whether a policy reboot – including a huge fiscal package – could help get Europe’s largest economy back on track. For more content from HSBC Global Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our Asia-centric podcast "Under the Banyan Tree" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at [email protected] for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/9LXXCNH Hosted on Acast. See acast.com/privacy for more information.