The Flip Side
Episodes
Should alternative asset managers be trading like software?
09 Mar 2026
Contributed by Lukas
Private credit has been a powerful growth engine for alternative asset managers, with business development corporations (BDCs) playing a central role....
Is US equities exceptionalism finally cracking?
09 Feb 2026
Contributed by Lukas
After more than a decade of US equity dominance, international markets made a rare comeback in 2025. Europe, Japan, Emerging Markets and the UK outper...
Will the US consumer hod up in 2026?
08 Jan 2026
Contributed by Lukas
The US consumer showed notable resilience over the holiday period, with retail sales and e-commerce activity remaining robust. Yet, beneath the surfac...
UK Autumn Budget: Success or shortfall?
04 Dec 2025
Contributed by Lukas
The UK’s fiscal policy faced a pivotal moment as Chancellor Rachel Reeves delivered her second Autumn Budget, confronting market and political press...
Is Japan doubling down on Abenomics, or redefining it?
06 Nov 2025
Contributed by Lukas
Japan’s economic policy stands at a crossroads as Prime Minister Sanae Takaichi takes office, with the legacy of Abenomics challenged by shifting ma...
Is the AI investment cycle a sign of history repeating?
02 Oct 2025
Contributed by Lukas
Artificial intelligence has become the defining investment theme of the current market cycle, with capital expenditure on AI infrastructure reaching u...
US bank regulatory reform: Capital relief or systemic risk?
04 Sep 2025
Contributed by Lukas
In June, US banking regulators, led by the Federal Reserve, proposed changes to the supplementary leverage ratio (SLR), a regulatory measure used to e...
Are oil markets set to heat up or burn out?
04 Aug 2025
Contributed by Lukas
Despite widespread expectations of weakening demand for oil, market fundamentals are showing signs of tightening. A slowdown in US shale production an...
Do the risks of NBFI lending outweigh the opportunities?
03 Jul 2025
Contributed by Lukas
Commercial & Industrial loans from banks are on the decline, and lending to Main Street and consumers from non-bank financial institutions (NBFIs)...
Is the US bond market starting to rebel?
04 Jun 2025
Contributed by Lukas
US Treasury bonds are widely regarded as the “world’s risk-free asset.” However, in recent weeks, global investors have increasingly shied away ...
Is this the end of the dollar as we know it?
12 May 2025
Contributed by Lukas
Following the 2024 US election, predictions of a dollar rally were easy to come by, based on the presumption that President Trump would implement his ...
Will tariffs trigger a recession?
11 Apr 2025
Contributed by Lukas
The course of the US economy has changed since the beginning of April, when tariffs were introduced – and subsequently paused. This, combined with r...
Is there too much hype for AI and the hyperscalers?
18 Mar 2025
Contributed by Lukas
AI has been a major focal point for investors as tech companies compete for an edge in the race to deliver on its promises.The hyperscalers – tech g...
Will European equities outperform the US in 2025?
06 Feb 2025
Contributed by Lukas
Europe is the top performing region year to date in equity markets. Can this outperformance be sustained given the Stoxx 600 has underperformed compar...
Does inflation still matter?
15 Jan 2025
Contributed by Lukas
Inflation has been a critical focus for investors in recent years. US headline PCE and CPI peaked at 7.2% and 9.1% in mid-2022, but with levels coming...
Will Trumponomics be incremental or transformational?
11 Dec 2024
Contributed by Lukas
US President-elect Donald Trump has indicated his incoming administration will make major policy changes on everything from tariffs to taxes, all the ...
Is China’s economic stimulus a game-changer or window dressing?
10 Oct 2024
Contributed by Lukas
Interest rate cuts, reduced down-payment requirements for mortgages and media reports of the re-capitalisation of banks – are just a handful of the ...
Does market volatility risk a US hard landing?
14 Aug 2024
Contributed by Lukas
Recent volatility in global financial markets has left analysts and investors speculating whether it is being driven by technical factors or more fund...
Will investors benefit from the 'equitification' of credit markets?
10 Jul 2024
Contributed by Lukas
Corporate bond and loan markets have traditionally been rigid when compared to equity markets, characterised by low liquidity, low trading volumes and...
Can consumers curb their carbon addiction?
24 Apr 2024
Contributed by Lukas
US carbon emissions are down c.20% from their peak over the past 20 years, thanks primarily to efficiency gains, such as increased miles per gallon fo...
Can the Fed take credit for declining inflation?
12 Mar 2024
Contributed by Lukas
Inflation in the US peaked at around 9% in 2022, and by January 2024, CPI inflation had fallen to 3.1%. This dramatic reduction was achieved without t...
Can AI solve the modern productivity puzzle?
08 Feb 2024
Contributed by Lukas
In episode 60 of The Flip Side, Hiral Patel, Head of Sustainable & Thematic Research, talks to Christian Keller, Head of Economics Research, about the...
Is US debt reaching crisis levels?
14 Dec 2023
Contributed by Lukas
Warnings that rising US national debt levels are reaching a crisis point have waxed and waned for decades. In Flip Side podcast, our analysts discuss ...
Are equity markets out of sync with the economy?
17 Oct 2023
Contributed by Lukas
Stock prices across the developed world are generally higher this year, after falling sharply in 2022. Inflation and the pace of interest rate hikes h...
Are US house prices set to fall?
28 Sep 2023
Contributed by Lukas
US housing has been a hot topic since the onset of COVID, with a surge in both home buying and prices. But the housing market may be set for a major c...
Will Electric Vehicles Break the Electric Grid?
02 Aug 2023
Contributed by Lukas
Electric vehicles are touted as a way to help reduce CO2 emissions, but can power grids cope with the corresponding electricity demand? Listen to Barc...
Can the US economy outrun a recession?
06 Jul 2023
Contributed by Lukas
In episode 55 of The Flip Side, Global Head of Research Jeff Meli and Chief US Economist Marc Giannoni discuss the warning signs for a potential US re...
Is the bank crisis over or is more fallout ahead?
16 May 2023
Contributed by Lukas
The recent banking turmoil has exposed a longer-term challenge for the sector: the very nature of systemic risk is changing as runs on deposits become...
What Are the Trade-Offs of Transition? (Live from ESG Conference in NYC)
31 Mar 2023
Contributed by Lukas
At Barclays’ inaugural ESG Conference in New York City, Global Head of Research Jeff Meli and Senior Energy Research Analyst Lydia Rainforth recorde...
Will inflation stall at a high level or decline much further?
02 Feb 2023
Contributed by Lukas
Is the US economy on-track for inflation to fall back in line with the Federal Reserve’s 2% target by the end of 2023? Our research analysts share t...
Will the Fed crash the US into recession in 2023?
08 Dec 2022
Contributed by Lukas
Many forecasters, including our own economists, are expecting a US recession in 2023, driven by the rapid and ongoing hiking cycle initiated by the US...
Will high energy prices fan the flames of recession?
03 Nov 2022
Contributed by Lukas
Barclays Research is forecasting recessions in the US, the UK and Europe, driven in part by high energy prices. Will pressure from high energy costs c...
What’s behind the recent UK market turmoil?
04 Oct 2022
Contributed by Lukas
After the new UK government’s ‘mini-budget’ was announced, select UK markets slumped. In episode 49 of The Flip Side, Barclays Research analysts...
Is this a make-or-break moment for ESG investing?
01 Sep 2022
Contributed by Lukas
ESG investors face rising challenges to implement effective strategies due to increasing complexity and a lack of uniform standards. Our Research anal...
Is a new era of instability ahead?
28 Jul 2022
Contributed by Lukas
Global economies are facing volatility and uncertainty after nearly 30 years of relative stability. Our analysts debate whether it's the end of an eco...
Are consumers pulling back?
06 Jul 2022
Contributed by Lukas
Consumer spending has been a bright spot amidst a range of shocks to the economy, but will they continue to spend? Our analysts debate.
As the private credit market grows will the risks increase?
23 May 2022
Contributed by Lukas
Given the rapid growth of the private credit market, Research analysts Jeff Meli and Brad Rogoff debate the tradeoffs issuers and investors may face a...
Should corporate purpose shift from shareholder to stakeholder?
14 Apr 2022
Contributed by Lukas
Government, social and corporate forces are converging to redefine corporate purpose. Listen to Global Head of Research Jeff Meli and Professor James ...
Will the Russia-Ukraine conflict trigger a global recession?
14 Mar 2022
Contributed by Lukas
The Russia-Ukraine conflict has far-reaching implications for markets and economies. Our Research analysts debate whether a global recession is among ...
Is more or less volatility ahead for US equity markets?
15 Feb 2022
Contributed by Lukas
January was a volatile month for US equities. In this episode, our Research analysts debate whether this trend will persist in the weeks and months ah...
Has the Fed fallen behind the curve on inflation?
17 Dec 2021
Contributed by Lukas
The US Federal Reserve recently turned hawkish on inflation. Our Research analysts debate whether economic conditions justify the shift.
Will COVID-19 pills be a game changer for the economy?
24 Nov 2021
Contributed by Lukas
Oral anti-viral COVID-19 treatments have performed well in clinical trials, and approval for use is expected soon. What does this mean for the global ...
Is the US ready for a carbon tax?
21 Oct 2021
Contributed by Lukas
Economists view a carbon tax as an effective solution to lower emissions, yet the United States has not implemented one. Has the time come? Jeff Meli ...
Will US investment in human infrastructure drive economic growth?
28 Sep 2021
Contributed by Lukas
The US Congress is negotiating a multi-trillion dollar spending bill to invest huge sums in human infrastructure. But will doing so deliver economic r...
China's regulatory reforms: Warranted, or a step too far?
18 Aug 2021
Contributed by Lukas
Regulatory changes in China are affecting industries and global markets. Research analysts Ajay Rajadhyaksha and Avanti Save debate the policies’ me...
Are corporate bond valuations disconnected from fundamentals?
08 Jul 2021
Contributed by Lukas
Barclays Research analysts Jeff Meli and Brad Rogoff debate whether near record high corporate bond valuations have come unmoored from market fundamen...
Is rising inflation here to stay?
27 May 2021
Contributed by Lukas
Research analysts Jeff Meli and Ajay Rajadhyaksha debate whether the recent spike in US inflation data is a temporary blip or poses a sustained threat...
Is the US infrastructure bill worth its high price tag?
19 Apr 2021
Contributed by Lukas
Research analysts Jeff Meli and Jonathan Millar debate the necessity and merits of the US administration’s proposed $2.3 trillion infrastructure pla...
Are financial assets headed into bubble territory?
08 Mar 2021
Contributed by Lukas
Research analysts Jeff Meli and Ajay Rajadhyaksha debate which financial assets are becoming bubbles that investors should be wary of now.
Will retail investors continue to upend the stock market?
10 Feb 2021
Contributed by Lukas
Jeff Meli and Ryan Preclaw debate the long-term implications of recent retail trading on the stock market, ranging from portfolio strategies to regula...
Will COVID hurt or help long-term growth?
18 Dec 2020
Contributed by Lukas
As 2020 comes to a close, Barclays Research analysts Jeff Meli and Christian Keller debate about the prospects for short- and long-term economic growt...
Does the US need another round of fiscal stimulus?
12 Nov 2020
Contributed by Lukas
In the latest episode of The Flip Side, Head of Research, Jeff Meli, and Head of Macro Research, Ajay Rajadhyaksha, discuss whether factors such as th...
Should the US government play such an outsized role in housing finance?
14 Oct 2020
Contributed by Lukas
Head of Research Jeff Meli and MIT Finance Professor Deborah Lucas debate whether the government-sponsored enterprises Fannie Mae and Freddie Mac are ...
Will the dominance of megacities survive COVID-19?
29 Sep 2020
Contributed by Lukas
The pandemic has highlighted numerous risks to living and working in megacities around the world and now calls into question whether the long-term tre...
Will ESG investing be a force for positive change?
18 Aug 2020
Contributed by Lukas
Jeff Meli and Zoso Davies debate whether the lack of uniformity in ESG scoring is limiting the impact that investors intend to have in transforming co...
Navigating the Virus Economy: How much will COVID-19 change the global economy?
09 Jul 2020
Contributed by Lukas
Barclays Global Head of Research Jeff Meli and Global Head of Economics Research Christian Keller debate the longer term, lasting effects of the pande...
Navigating the Virus Economy: Is the stock market too optimistic?
23 Jun 2020
Contributed by Lukas
Special guest economist Professor Robert Shiller joins Barclays Head of Research Jeff Meli to debate whether equity markets are overvalued and what ro...
Navigating the Virus Economy: Is inflation or deflation ahead?
08 Jun 2020
Contributed by Lukas
Barclays Head of Research Jeff Meli and Head of FX & EM Macro Strategy Marvin Barth debate whether to expect inflation or deflation in the recovery pe...
Navigating the virus economy: Will the global recovery be a quick bounce or slow grind?
10 May 2020
Contributed by Lukas
Barclays Head of Research Jeff Meli and Head of Economics Research Christian Keller debate between about how long it may take for government intervent...
Navigating the Virus Economy: Will the euphoria in credit markets last?
22 Apr 2020
Contributed by Lukas
Barclays Research analysts Jeff Meli and Brad Rogoff debate about whether the credit rally will last and how effective the US government's support fac...
Navigating the Virus Economy: Will the CARES Act stimulus package save the US economy?
08 Apr 2020
Contributed by Lukas
Barclays Head of Research Jeff Meli and Chief US Economist Michael Gapen discuss the most important provisions of the CARES Act and debate whether the...
Navigating the Virus Economy: Credit markets under pressure – are they about to crack?
02 Apr 2020
Contributed by Lukas
Barclays Research analysts Jeff Meli and Brad Rogoff debate whether recent stresses in short-dated credit markets, in conjunction with severe downgrad...
Will the coronavirus pandemic tip the world into a recession?
15 Mar 2020
Contributed by Lukas
Jeff Meli, Barclays Head of Research, and Ajay Rajadhyaksha, Barclays Head of Macro Research, debate to what extent the economic risks posed by the co...
Planes, politics & viruses: Emerging risks to US growth?
12 Feb 2020
Contributed by Lukas
Jeff Meli, Barclays Head of Research, and Michael Gapen, Barclays Head of US Economics Research, debate the degree to which new risks – the issues a...
Are the stars aligning for the UK to thrive after Brexit?
20 Jan 2020
Contributed by Lukas
Marvin Barth, Head of FX & EM Marco Research, and Fabrice Montagné, Chief UK Economist, debate whether a weakened global economy, geopolitical shifts...
Is regulation the problem or solution to address repo market volatility?
18 Dec 2019
Contributed by Lukas
Jeff Meli, Barclays Head of Research, and Ajay Rajadhyaksha, Barclays Head of Macro Research, debate whether enhanced regulation of the banking system...
Do negative interest rates help or hinder the economy?
13 Nov 2019
Contributed by Lukas
In an effort to spur growth, central banks in Europe and Japan have kept interest rates negative for years. Barclays analysts Jeff Meli and Zoso Davie...
Alternative meat - The future of food or just a fad?
24 Sep 2019
Contributed by Lukas
Jeff Meli, Barclays Head of Research, and Ben Theurer, Barclays Head of Latin American Equity Research and Americas Agribusiness analyst, debate wheth...
Can the world be less reliant on oil?
03 Sep 2019
Contributed by Lukas
Global oil demand currently stands at an all-time high. Barclays Research analysts debate whether innovation and regulation can transition the world t...
US Fed rate cut - wise economic decision or untimely mistake?
13 Aug 2019
Contributed by Lukas
Barclays Head of Research Jeff Meli and Chief US Economist Michael Gapen debate the merits of the Fed's July 2019 rate cut on the latest episode of Th...
Goodbye globalisation, hello automation: Time to rethink emerging markets?
16 Jul 2019
Contributed by Lukas
Technology has been a catalyst of globalisation in many emerging market economies. But could those tech advances now threaten EM development & related...
Does the US-China trade war pose a material risk to the US economy?
11 Jun 2019
Contributed by Lukas
Trade tensions between the US & China continue to rise. Barclays Research analysts Jeff Meli and Ajay Rajadhyaksha debate what’s at stake on this ep...
Big tech: Healthy or harmful to competition?
02 May 2019
Contributed by Lukas
Large technology companies like FAANG have amassed market share in the retail and media sectors. Is their dominance enhancing or stifling competition?...
Is market power weighing on the US economy?
01 Apr 2019
Contributed by Lukas
Since 2000, fewer and fewer companies have come to control larger and larger shares of the market in a wide variety of industries. In fact, 75% of US ...
Rising US corporate debt: Real threat or overblown hype?
27 Feb 2019
Contributed by Lukas
Has a decade of growth in the US corporate credit market ballooned to the point of bursting? Brad Rogoff and Shobhit Gupta debate what factors underli...
Did the US corporate tax cut stimulate the economy?
23 Jan 2019
Contributed by Lukas
At the end of 2017, US President Trump signed the Tax Cuts and Jobs Act into law. For corporations, this meant a significant reduction in the tax rate...
Brexit's warning shot: the beginning of the end for globalisation?
04 Dec 2018
Contributed by Lukas
In the fifth episode of The Flip Side podcast series, Marvin Barth, Barclays Head of FX and Emerging Markets Macro Research, sits down with Fabrice Mo...
The yield curve: Recession signal or market noise?
07 Nov 2018
Contributed by Lukas
The yield curve has been a relevant signal of past impending recessions. But is it still an adequate predictor today? Our Research analysts debate whe...
Emerging market volatility: Global crisis or series of one-offs?
29 Sep 2018
Contributed by Lukas
Some emerging market assets have plummeted in 2018. Are we headed toward a crisis that could undo ten years of economic expansion? Barclays Research a...
Goldilocks in developed economies: How long can it continue?
03 Sep 2018
Contributed by Lukas
Ten years after the financial crisis, unemployment has reached record lows in many global economies, which means we should have seen wage growth incre...
Are U.S. trade policies good for America and the world?
23 Jul 2018
Contributed by Lukas
Jeff Meli, Barclays Head of Research sits down with Marvin Barth, Head of FX and Emerging Markets Macro Research, to debate some of the factors contri...