Skip to main content
LoginOpens in new window
  1. Home
  2. Insights and Research
Global Macro Research
Macro Bytes

How do macro themes drive equity markets?

The latest episode of our Macro Bytes podcast on thematic investing

Contributors
Blair Couper, Jamie Mills O'Brien

Duration: 28 Mins

We frequently discuss globalisation, political volatility, geo-political competition, and technological change on this podcast. But how can investors play these trends? Paul Diggle talks to Blair Couper and Jamie Mills-O’Brien, equity fund managers at abrdn, about thematic investing.
Related Stories
Conflict in Iran: how long will it last, and what will be the economic impact?
Does politics matter for markets? - with Jens Larsen of Eurasia Group
Will the trade war become a capital war?
What will the 'Donroe Doctrine' mean for global macro and markets?
What does 2026 hold for macro and markets?

Related articles

Global Macro Research1 min Read

EM outlook: shifting sands

Conflict in the Middle East clouds the near-term EM outlook, while US tariff policy and a busy electoral calendar also introduce large uncertainties. But EMs should benefit from the striking down of IEEPA, while the breakneck artificial intelligence rollout suggests external demand should remain robust.

Global Macro Research

The monthly macro outlook video: March 2026

From inflation volatility to new diversification challenges, investors must adapt to a world where geopolitical shocks are now a permanent fixture.

Global Macro Research1 min Read

Fog of war

Our baseline scenario, “Everything everywhere all at once”, sees the Iran conflict impart a large but short-lived shock, with inflation slightly higher, growth slightly lower, and the path of interest rates modestly tighter than otherwise would have occurred. However, now more than ever, we stress the risk distribution around this baseline. On top of “conflict risk dominates”, we add an even worse “stagflation” scenario. We keep “bond market rout”, “AI and capex collapse”, and add a new “AI eats all the jobs” downside. Alongside the existing “productivity rebound” upside, we add a new “fiscal expansion” scenario.

Global Macro Research34 min Read

Conflict in Iran: how long will it last, and what will be the economic impact?

The Iran conflict has escalated fast. Energy prices have spiked and risk sentiment has been hit, but financial markets are orderly. What does that tell us about what investors are expecting from the conflict, and what could still go wrong?

Global Macro Research5 min Read

Iran: Contained conflict or sustained oil shock? The triggers you can't ignore

Is the Iran conflict contained or set to escalate further? We map the market signals behind oil, havens and rates — and the triggers that could change sentiment fast.

View all articles
Risk warning

The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not a guide to future results.