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

No Good Outcomes For Energy Inflation
9 Sep 2026
It is Wednesday. Warring parties in the Middle East are again exchanging fire, and energy prices are spiking. For investors, it may be tempting to shrug off the latest flare-up, but disregarding the latest escalation in the Persian Gulf would be rash. Developments in the region will matter greatly for the trajectory of inflation over the coming months, and therefore for financial markets.
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Geoeconomic Monitor: India’s China Question
4 Sep 2026
Economic relations between India and China have not yet returned to normal, even after a two-year thaw. But Indian prime minister Narendra Modi and Chinese leader Xi Jinping have an opportunity to deepen economic engagement when they meet in New Delhi on September 12-13. Progress on stabilizing the neighbors’ disputed border means India may now open up to Chinese investment, argues Tom Miller. Meanwhile, Tom Holland says that private investors would be mad to back US president Donald Trump’s Venezuelan oil deal.
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Geoeconomic Monitor: New Alliance, Old Fears
21 Aug 2026
The signing of a new mutual defense pact by Saudi Arabia, Turkey and Pakistan has caused alarm in the Middle East and beyond. Tom Holland argues that in a post-war world in which the US is likely to scale back its presence in the region, the new agreement will boster security and investment in Western Asia, rather than exacerbate existing tensions. Tom Miller looks at the impact of Black Sea shipping disruption on global wheat supplies.
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