Rosa & Roubini Associates

118 Pall Mall London SW1Y 5ED | +44(0)207 1010 718

Alex Waters

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Alex Waters is a macroeconomist and market strategist based in Tokyo, currently working for Deloitte. He worked with R&R until July 2019, and previously worked for  Capital Generation Partners’ investment team and Asset Allocation Committee on global macroeconomic trends. Previously he worked for Roubini Global Economics (RGE) as a senior economist - covering G10 economies - and as the leader of the Quantitative Macroeconomics team. Prior to joining RGE, Alex was a quantitative and policy economist for the Commonwealth Secretariat's Debt Management Team. 


Alex holds a Ph.D in economics, an MSc in economic and econometrics, and a BSc in financial economics and econometrics, all of which were obtained from the University of Kent. He has published several, widely cited, academic articles, analysing the interaction between the yield curve and the macroeconomy during the UK's first experience with Quantitative Easing.

RECENT RESEARCH PAPERS

Preview: Fed to Cut Rates by 25bps in July and Signal Another 25bps Cut In September

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By Nouriel Roubini, Brunello Rosa and Alex Waters

29 July 2019

jUNE - jULY 2019

BOJ Preview: Incremental Steps Before September’s Decisions

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By Alex Waters, Brunello Rosa and Nouriel Roubini

26 July 2019

ECB PREVIEW: Getting Ready To Deliver More Easing In September

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by Brunello Rosa, Alex Waters  and Francesca Panelli

19 July 2019

MONETARY AFFAIRS - Flash Review: Riksbank Remains Cautious And Leaves Outlook Unchanged

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by Alex Waters and Brunello Rosa

3 July 2019

RBA Cuts Rates for a Second Month in a Row, With The Possibility Of More Easing Ahead

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by Brunello Rosa and Alex Waters

2 July 2019

Preview: Riksbank To Remain Prudently Dovish

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By Alex Waters and Brunello Rosa

28 June 2019

Preview: RBA Ready To Cut Rates Again

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By Alex Waters and Brunello Rosa

28 June 2019

MAY - JUNE 2019

Japan Election Update: Risk of Double Election Remains Despite Abe’s Dismissal

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by Alex Waters


27 June 2019

Fed To Stay On Hold But Leave Wide Open the Option of Forthcoming Rate Cuts

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By Nouriel Roubini, Brunello Rosa and Alex Waters

17 June 2019

PREVIEW: Norges Bank Set To Increase Rates In Spite Of Dovish Fed and ECB

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By Alex Waters and Brunello Rosa


14 June 2019

The SNB Introduces A New Policy Rate (and Claims To Have Space To Ease)

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by Brunello Rosa and Alex Waters

13 June 2019

Review: RBA Cuts Its Cash Rate Due to Uncertainty On The Global Outlook

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by Alex Waters 

4 June 2019

MONETARY AFFAIRS - Review: RBNZ Is The First G10 Central Bank to Cut Rates In This Cycle

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by Alex Waters and Brunello Rosa

8 May 2019

APRIL - MAY 2019

MONETARY AFFAIRS-RBA Review: Cash Rate Held Steady, Labour Market Key to Rate Outlook

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by Alex Waters and Brunello Rosa

7 May 2019

MONETARY AFFAIRS - RBA PREVIEW: A Rate Cut Is On The Table

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By Alex Waters and Brunello Rosa

3 May 2019

Preview: Fed Still Patient, With Rate Cuts Considered Only If Outlook Worsens

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by Nouriel Roubini and Alex Waters

29 April 2019

Review: The BoJ Re-Commits to Its Current Policy Framework by Updating Its Forward Guidance

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by Alex Waters

25 April 2019

The US Can Temporarily “Decouple” From The Eurozone (If The Shock to EZ is Mild)

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by Alex Waters and Brunello Rosa

23 April 2019

MONETARY AFFAIRS - Bank of Canada Preview: On Hold, For Now

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by Alex Waters and Brunello Rosa

19 April 2019

MARCH - APRIL 2019

Bank of Japan Preview: BoJ In Wait-And-See Mode as Global Headwinds May Fade

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by Alex Waters and Nouriel Roubini

19 April 2019

MACRO PICTURE - EU-US Auto Trade Dispute: Negotiations Before A War

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by A.Waters, Brunello Rosa, Nouriel Roubini

2 April 2019

Review: RBNZ Prepares For a Rate Cut (And Puts Pressure On RBA To Shift Risk Balance)

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by Alex Waters and Brunello Rosa

28 March 2019

Review: Hawkish Norges Bank Raises Rates and Signals Another Hike Within Six Months

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by Brunello Rosa and Alex Waters

21 March 2019

MONETARY AFFAIRS: Fed Review Fed Delivers Another Dovish Surprise

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by Brunello Rosa and Alex Waters

20 March 2019

Preview: Norges Bank To Hike In March and Signal Another Hike in 2019

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by Alex Waters

15 March 2019

February - March 2019

Fed Preview: Extended Pause Highly Likely and Treasuries Runoff to End This Year

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by N. Roubini, Brunello Rosa, Alex Waters 

14 March 2019

POLICY COMPASS - Japan: A General Election In July Is A Risk in A Politically Hectic 2019

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by Alex Waters

12 March 2019

MACRO PICTURE: Venezuela’s Complicated Transition

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by Lapo Fioretti, Brunello Rosa 

and Alex Waters 

7 March 2019

Reviewing DNB’s Reaction Function To Defend The Currency Peg

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by Alex Waters and Brunello Rosa

5 March 2019

MONETARY AFFAIRS - CENTRAL BANK PREVIEW: BOC Likely To Pause For Longer

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by Alex Waters, Joseph Shupac Brunello Rosa 

4 March 2019

SNB: Rising Global and Domestic Risks To Fight With Little Policy Ammunition

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by Alex Water and Brunello Rosa

20 February 2019

January - February 2019

RBA Jumps on The Dovish Bandwagon, While RBNZ Still Sits On The Fence

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by Alex Waters

19 february 2019

Fed Preview: Opening The Door To A Pause In The Hiking Cycle

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by Alex Waters 

and Brunello Rosa

25 January 2019

Review: BoJ Lowers Inflation Projections and Remains On Auto-Pilot

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by Alex Waters

23 January 2019

Norges Bank Preview: Waiting For March to Hike

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Photo: Esten Borgos (from Norges Bank’s website) 

by Alex Waters

18 January 2019

BoJ PREVIEW: A Stronger Yen May Cause Some Discomfort

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by Alex Waters


17 January 2019

Review: BOC Remains On Hold, With Hawkish Undertones

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by Brunello Rosa, 

Alex Waters, J. Shupac 


9 January 2019

December 2018

PREVIEW: BoC Likely to Remain On Hold, While Sounding Upbeat

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by Alex Waters and Joseph Shupac

7 January 2019

MONETARY AFFAIRS - Review: Riksbank Hikes its Policy Rate by 25bps

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by Brunello Rosa  and Alex Waters 

20 December 2018

MONETARY AFFAIRS - Review: Fed Reduces Expected Number of Rate Hikes in 2019

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by Brunello Rosa and Alex Waters 

19 December 2018

MONETARY AFFAIRS -PREVIEW: Fed to Signal Slower Pace of Policy Normalization

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by Brunello Rosa, Alex Waters 

and Nouriel Roubini

17 December 2018

MONETARY AFFAIRS - PREVIEW - Riksbank Likely To Wait Longer Before Lift-Off

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by Brunello Rosa and Alex Waters

14 December 2018

MARKET VIEWS - Markets Buffeted By Tailwinds and Headwinds At Year-End

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by Alex Waters

7 December 2019