Themes

Structural themes, tracked over time

Research at Infy Macro is organized around six persistent themes. Each theme is a multi-year thesis, revisited as the evidence changes.

MACRO

Growth, inflation, rates and the cycles that drive them — read against consensus.

Oil, gas and power as the binding constraint on the modern economy.

Chokepoints, alliances and the repricing of political risk in markets.

The end of zero rates and the unwind of the world's largest carry trade.

Separating the economics of AI from the narrative — capex, energy and returns.

Underinvested supply meeting structural demand across metals and resources.