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Investment Weekly

Fiscal dominance and the Fed
16 January 2026
    Articles

    Chart of the week – Fiscal dominance and the Fed

    Chart of the week – Fiscal dominance and the Fed

    This week, attention turned to another big macro theme: fiscal dominance. In economic models, it’s associated with higher and more volatile inflation, and boom-bust cycles. The good news is we’re probably not fully there yet – but there are signs in markets that something has changed.

    Market Spotlight

    • Volatility dampener

    Lens on…

    • Looking through the noise
    • Sophomore slump
    • Marginal gains

    Read the full commentary PDF, 3.31MB 

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