Media & Events

SGH Macro Advisors hosts private roundtable meetings and events for clients and senior policymakers and will on occasion share its insights and grant interviews to selective media upon request.  Contact us for more information.

2016
Bloomberg - June 1, 2016
"This move in the yen is maybe more about a risk-off move, than sort of a positive sentiment," Sassan Ghahramani, chief executive officer of SGH Macro Advisors, said on Bloomberg Television. "People got a little bit ahead of themselves and were expecting some sort of announcement on a supplementary budget. When that didn’t come, I think there was a bit of a disappointment trade."
Market News International - May 17, 2016
US TSYS: SGH Macro says "A Fed messaging offensive is underway, culminating with Chair Yellen's twin speaking engagements on May 27 and June 6, to move market pricing higher for a June rate move." Data are stronger.
Bloomberg - May 13, 2016
Peter Praet, the ECB’s chief economist, met with Nomura, Germany’s Deka Group and Brussels-based BNP Paribas Fortis, as well visiting SGH Macro Advisers in New York...
April 6, 2016
SGH held a Dinner Roundtable in London with Saudi/oil expert Dr. Mohamed Ramady hosted by SGH Macro Advisors’ founder and CEO, Sassan Ghahramani which featured a discussion on Oil, Mideast, and Macro Markets.
March 24, 2016
SGH Hosts Dinner Roundtable with H.E. Sergey Ivanovich Kislyak, Ambassador of the Russian Federation to the United States
CNBC - March 10, 2016
...But Draghi, in Thursday's news conference, dismissed the notion that the central bank was out of ammunition. SGH Macro Advisors agreed, saying markets were missing how effective the ECB's broad-based measures could be. "Indeed, in pushing its stimulus deeper into the banking system, credit markets, and peripheral countries, the ECB may have delivered a rather powerful — and desperately needed — boost to the real economy," SGH Macro Advisors wrote in a note.
Bloomberg - February 22, 2016
(Bloomberg) -- OPEC meeting of tech experts scheduled for March is another step in a “trust-building path” toward possible output cuts between the organization and key non-OPEC producers that could come into “sharper view” as early as this summer, Sassan Ghahramani, CEO of SGH Macro Advisors, writes in a note to clients.
Barron's - February 17, 2016
Oil prices may be showing signs of a bottom, and Saudi Arabia and other big producers might be willing to settle for prices near $45 per barrel, says Sassan Ghahramani, CEO of SGH Macro Advisors...An expert on Iran and Saudi Arabia, Ghahramani just told Bloomberg that he doesn’t think there is an “extra bid” — a premium — in oil prices because of geopolitical risk, but rather the opposite. He said he thinks we have seen “some bottoming” in oil prices with spikes higher. While acknowledging a freeze in oil production announced by Russia and the Saudis, Ghahramani said the process of shoring up prices will be a long one with big players – including Iran — attempting to build trust when they are rivals, and “quite frankly enemies” in some cases. But oil-price threshholds are moving lower with a global glut of crude, boosted by U.S. supplies.
Bloomberg - February 12, 2016
Bank of Japan undertook “rate check” calls to some banks to check levels of USD/JPY, which caused a spike in the pair, Sassan Ghahramani, head of SGH Macro Advisors, said in a note.
Barron's - February 11, 2016
With a ceasefire in Syria brewing, and the Saudi king likely visiting Russia within weeks, the world’s biggest oil producers could cut output “sometime in March,” SGH Macro Advisors said late Thursday.
January 14, 2016
SGH Hosts Dinner Roundtable with renowned Iran expert Carnegie Endowment for Peace’s Karim Sadjadpour
2015
Institutional Investor - October 20, 2015
"In the heyday of the 1990s, a junior bank trader might hold a $1 million to $2 million position overnight, and a top trader might hold a position of up to $100 million overnight," notes Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises money managers. "That has disappeared. Volume is at an all-time high, but its a situation of 'pass the hot potato.' People can't hold positions... Meanwhile, hedge funds and other money managers have become the players holding currency positions for sustained periods, Ghahramani notes. "A lot of them are on the same side [of trades], and if they need to get out, banks are no longer there as a cushion. That tends to exaggerate moves."
Barron's - August 7, 2015
Indeed, the folks at SGH Macro Advisors note while European Union officials want Greece to submit a memo of understanding before August 11 or at least August 13 as a condition for a European Stability Mechanism (ESM) disbursement, the memo may not come. And Greece needs money to pay the European Central Bank (ECB) on August 20.
Barron's - July 13, 2015
SGH Macro Advisors’ Sassan Ghahramani and Kevin Muehring write: “The most humiliating measure of many, for Tsipras on a political level, was the 50 billion Euro escrow fund negotiated with Germany. After the all-night negotiations, he got little more than a concession that the “pledged” assets be left under Greek and not foreign (Luxembourg) jurisdiction … Despite guaranteed defections … we are told Tsipras has an estimated 100 or so Members of Parliament still that will do what he asks them to do … The Greek banking system is highly likely to be consolidated, although under an orderly scenario – meaning as part of the Eurozone and with all the support to the financial system that this inclusion earns from the ECB – we would expect that recapitalization and consolidation will be conducted gingerly, with considerable effort to limit the reforms to equity and subordinated debt and to avoid the far more controversial haircuts to deposits (i.e., those over 100,000 Euros).”
Reuters - July 6, 2015
Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds, said financial markets recognised that Germany's limits were being tested, adding: "And I think the markets would almost say 'let's ringfence this situation'." "The whole thing about the irreversibility of the euro and all of that -- that ship sailed a long time ago," he said. "Now it is: 'Can you manage through this crisis properly?'"
ThinkAdvisor - July 2, 2015
“The key takeaway for the U.S. investor is this: A No vote is not priced into the market,” says Sassan Ghahramani, president and CEO of SGH Macro Advisors, a consulting firm focused on global economic issues. It won’t be a “Lehman moment,” Ghahramani says, referring to the financial chaos that followed the demise of Lehman Brothers. But “the Euro could drop a lot and the dollar strengthen a lot and the Fed, which wants to hike in September, won’t want to raise rates.”
Barron's - July 2, 2015
SGH Macro Advisors: “The headline that really caught our attention was Finance Minister Yanis Varoufakis’ threat to resign if the country votes “Yes” on Sunday. It is very hard to imagine a “threat” that would galvanize and cheer the YES camp more than that … A yes outcome after Prime Minister Alexis Tsipras campaigned so hard for a no vote will certainly leave him severely damaged politically. But we suspect he will survive and soon be limping his way back to Brussels.”
Barron's - June 24, 2015
Sassan Ghahramani, CEO of SGH Macro Advisors, a policy research company based in New York, writes that withdrawals have reached a record of 1.4 billion per day in recent days. He is hopeful that Greece can secure an extension on its bailout. But he writes of the basically frozen nature of the Greek banking system already. He writes:
Barron's - June 11, 2015
And, more importantly, European Union officials have been considering a short-term — rather than 9-month — extension and contingency funding plan, assuming some kind of agreement can be cobbled together, writes Sassan Ghahramani, CEO of SGH Macro Advisors, policy research company based in New York. Ghahramani points to a little-noticed report in Germany’s Der Bild suggesting Germany would reject a third bailout but would extend the existing program: “Buried in the piece is confirmation of one of the key developments we have been flagging – namely that German lawmakers may be considering the option of releasing the 10.9 billion euro EFSF/HFSF funds as an alternative to a formal program disbursement. But this will obviously also be controversial and assumes Greek Prime Minister Alexis Tsipras can and will deliver credible and politically ‘highly visible’ concessions and a budget plan for meeting the 1% primary budget target.”