Rates & Bonds
Sovereign curves, duration, issuance, term premium and the forces shaping the price of capital.
Independent global macro & cross-asset research
Markets are connected.
The work should be too.
Independent research across global macro, rates, bonds, equities and commodities — focused on the forces that move capital, risk and market pricing.
Perspective
A Treasury yield is not just a number. An equity multiple is not just a valuation. A commodity price is not just supply and demand. Markets clear through balance sheets, liquidity, positioning and the price investors require to hold risk.
Research
Follow the transmission,
not just the headline.
Liquidity & Macro
Central banks, balance sheets, funding markets and the transmission of liquidity through financial assets.
Equities
Valuation, earnings, capital flows and the macro forces that matter across sectors and markets.
Commodities
Gold, energy and real assets viewed through monetary conditions, supply, positioning and capital allocation.
Approach
Research built around the question that matters.
What is actually driving the market — and where does it transmit next?
Garoud Research connects macro conditions with market structure and cross-asset pricing. The objective is not to reproduce the news cycle, but to identify the mechanisms underneath it and frame the implications for investors.
Advisory
Independent thinking.
Applied to your mandate.
For investors who want the research applied directly to their portfolio, exposures or investment questions.
Research Advisory
$2,500 / month
Ongoing access to Garoud Research and a regular forum for discussing the market environment.
- Weekly global macro research letter
- One private advisory call per month
- Limited follow-up on research questions
- Cross-asset market perspective
Portfolio Advisory
$5,000 / month
A higher-touch relationship that applies the research directly to your portfolio and mandate.
- Weekly global macro research letter
- Two private advisory calls per month
- Priority access for time-sensitive questions
- Bespoke portfolio and mandate research
- Tailored scenario analysis and written memos
Advisory relationships are selective and subject to fit. Garoud Research does not provide custody, brokerage or discretionary asset management.
About
Djamal Garoud
Garoud Research is an independent research practice focused on global macro and cross-asset markets. The work draws on a career across investment management, private markets and institutional capital, with an emphasis on understanding how macro forces transmit through market pricing and capital allocation.
The public work begins on LinkedIn. Garoud Research is where that thinking becomes a more structured research and advisory relationship.
Start a conversation
For investors looking for an independent view of the market.
Tell us briefly about your mandate and what you are looking to understand. We will respond if there is a good fit.