Nick Andrews
Europe Analyst
Nick has spent the last 12 years involved in trading, analyzing or writing about European markets and the global economy. At Morgan Stanley for seven years he divided his time between the interest rate swap and repo markets before returning to university to complete a masters in economics. During that time he also wrote for the Wall Street Journal covering fixed income markets. After graduating in 2011 from London's Birkbeck College, he worked for David Roche's investment consultancy, Independent Strategy, before joining Gavekal Research in 2013. Nick also has a degree in engineering from Edinburgh University.
For Nick's article archive click here.
The Daily
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Gavekal Research
November 11, 2019
Europe's Political Paralysis
With the Spanish general election unlikely to produce a proper government, the country looks increasingly ungovernable. For an economy that weathered the financial crisis intact but has chronic productivity problems, this is a worry.
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Gavekal Research
November 8, 2019
It's Not 2017 Again In Europe
Yesterday saw a global risk-on move as investors cheered reports that a US-China trade deal may be in the offing. In Europe, this followed data releases that showed German factory orders picking up and PMIs stabilizing. On first blush, this looks reminiscent of 2017’s recovery.
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Gavekal Research
October 30, 2019
A Swedish Canary In The Coal Mine
Sweden’s Riksbank plans to raise its main policy rate to zero from -0.25%. A relieved governor, Stefan Ingves, said last week it would be a “bonus” to return to parity in December and warned against staying negative for too long.
Ideas
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Gavekal Research
April 4, 2019
Auf Wiedersehen, German Competitiveness
Behind the factors that have caused Germany’s factory slowdown, deeper structural trends are eroding the competitiveness of German industry. The gains Germany made by deploying labor more effectively since the late 1990s have now run out, and that there are few signs Germany is well positioned to deploy capital more efficiently in the future.
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Gavekal Research
October 15, 2018
The Politics (And Economics) Of A Multi-Polar Europe
This weekend’s election in Bavaria saw voters deal parties in Germany’s ruling coalition a bruising rebuff that further erodes Merkel’s authority and effectively kills off Macron’s plan for the EU to integrate at a faster pace.
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Gavekal Research
May 18, 2018
A UK Consumer Reckoning
This week saw the release of moderately good news for the Brexit-bound UK economy, as wages rose the most in almost three years. With inflation moderating, real incomes have edged higher, giving hope that consumption can again fire up growth.