Tom Holland

Tom Holland

Deputy Global Research Director

Tom helps to steer Gavekal’s global research, with a special focus on geoeconomics and energy markets. Before joining Gavekal in 2014 he worked as an analyst and commentator at media organizations including CNBC, The Wall Street Journal and the Far Eastern Economic Review, earning his spurs as the lead foreign exchange analyst for Dow Jones during the 1997-98 Asian currency crisis. He originally started his working life as an exploration geologist, until a collapse in commodity prices forced him into journalism as the traditional refuge of the otherwise unemployable.

Tom Holland's Articles

Selected research

When Bad Is Good
When Bad Is Good
Cedric Gemehl, Tom Holland
28 Jul 2025
On Sunday Donald Trump and European Commission president Ursula von der Leyen clinched a trade deal that will see broad 15% tariffs imposed on US imports from European Union countries. The agreement can hardly be termed a great deal for the EU. But by removing from the picture the worst case scenario of 30% US tariffs, EU retaliation and an escalating bilateral trade war, and by greatly reducing uncertainty, Turnberry eliminates the major near-term headwind opposing the continued rally in European stock markets.
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Whatever Happened To Energy Dominance?
25 Jul 2025
Six months into Donald Trump’s second term, the administration’s plans for US energy dominance are not going as intended as US consumers face higher prices for gasoline, natural gas and electricity. This is not especially surprising. Moreover, the trajectory of energy policy under the second Trump administration will spell trouble in years to come for the competitive position of the US economy.
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Geoeconomic Monitor: Digital Currencies And Financial Power
Geoeconomic Monitor: Digital Currencies And Financial Power
Arthur Kroeber, Tom Holland, Tom Miller
18 Jul 2025
As US lawmakers aim to fast-track legislation aimed at encouraging the development of privately issued cryptocurrencies, Arthur Kroeber assesses the probability that digital currencies will upend the established US-dollar-based international financial system. Separately, Tom Holland examines the likely effectiveness of US secondary tariffs aimed at curbing Russia’s energy exports, and Tom Miller takes the temperature of the political waters across the Taiwan strait.
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