Global Markets

Macro & Strategy Research

Our top-ranked economists and rates & FX strategists with solid market experience provide local colour out of our hubs located around the world. We provided detailed coverage of all countries in the respective regions by relying on our fully dedicated teams located in Argentina, Brazil, Chile, Mexico, the United States, the United Kingdom and Spain.

Our mission is to provide timely in-depth analysis of the economies we cover and investable trading recommendations in rates and FX markets. We also aim to provide our clients with thematic and customized research to support their investment and hedging decisions in the assets and geographies we cover.

Our solutions for you

Macro & Strategy Research

Euro Area, US and UK economies

Within the Euro area, we cover the German, French, Italian and Spanish economies in detail. Our in-depth structural economic analysis enables us to make strong calls and provide key insights into the economic backdrop. In this way, we produce highly-regarded quality forecasts of the day-to-day economic indicators and a medium-term economic outlook.

Macro & Strategy Research

Rates strategy

We cover EUR, GBP and USD government bonds (nominal and linkers) and linear and non-linear rates derivatives in those currencies. We analyse their macro fundamentals, including central bank policies, as well as issuance and credit dynamics, with the aim of identifying relative-value and directional opportunities and trade ideas. In the SSA space, we cover issuers such as the EU, ESM, EFSF, EIB and KfW.

Macro & Strategy Research

FX strategy

We directly cover all developed–country FX markets (including EUR, GBP and USD) as well as the Chinese renminbi. We also cover emerging market currencies in cooperation with our colleagues in New York, Latin America and Poland. The group’s approach focuses on thematic and macroeconomic analysis to identify both short- and long- term trends, as well as opportunities in the FX market.

Macro & Strategy Research

Technical Analysis

Supporting our strategic rates and FX analysis, we use technical analysis to identify statistical trend signals collated from trading activity in order to optimise market entry and exit levels and to cross-check our trading recommendations relative to the broader market.

Macro & Strategy Research

2024

Euromoney

Latin America Best FX Bank

Why choose Santander Corporate & Investment Banking

We offer industry-leading support for global M&A activities, integrating comprehensive financial services through our local teams. With a strong record in Europe and Latin America, we advise on major global deals, combining local expertise with deep sector knowledge to support your transactions effectively.

High volumes

A fully integrated bespoke service that supports high volumes.

Strong relationships

Strong relationships with some of the world’s largest corporations and institutional investors.

Global presence

Combining a global presence in the world’s major financial hubs with leading market expertise in our core footprint of Europe and Latin America.

Meet our team

Mike Bagguley

Global head of Markets

Meet our team

Mike Bagguley is global head of Markets for the Santander Corporate and Investment Banking (Santander CIB) division.

He reports to José M. Linares, Group Senior Executive Vice-President & global head of Santander CIB, and is a member of the SCIB Executive Committee.

Mr. Bagguley spent most of his over 30 year career at Barclays where he held multiple leadership roles within the markets business, leading Macro products, Trading for FX, Commodities, Linear and Options. He was also head of the Markets Business at ABSA Bank, where he was responsible for integrating it and turning it around following Barclays´ acquisition. Most recently, he was Chief Operating Officer of Barclays International and Barclays Investment bank, responsible for technology, operating platforms, risks and controls with a strong focus on improving commercial agility.

Mike Bagguley holds a bachelor's degree in Mathematics from Warwick University.

Meet our team

Find out about other solutions of interest

Global Markets

Credit

Credit performs its activity focusing in delivering best in class pricing and customized solutions across our client franchise - Institutional, Financial Sponsors and Corporate clients.

Contact us

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