Associate/Senior Associate (12 months LOA cover), Macro Strategy
SG, 238891
Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$434 billion (US$324 billion, €299 billion, £250 billion, and RMB2.35 trillion) as at 31 March 2025. Marking our unlisted assets to market would provide S$35 billion of value uplift and bring our mark to market net portfolio value to S$469 billion.
Our Purpose “So Every Generation Prospers” guides us to make a difference for today’s and future generations.
Operating on commercial principles, we seek to deliver sustainable returns over the long term.
We have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.
For more information on Temasek, please visit www.temasek.com.sg.
For Temasek Review 2025, please visit www.temasekreview.com.sg.
For Sustainability Report 2025, please visit https://www.temasek.com.sg/content/dam/temasek-corporate/sustainability/2025/Temasek-Sustainability-Report-2025.pdf.
Introduction
The Macro Strategy team provides the macroeconomic outlook (growth, rates, FX) and global markets strategy for the firm.
As part of the Portfolio Strategy & Risk Group (PSRG), which actively guides the firm's portfolio position, the Macro Strategy team translates macro and market projections into strategic investment views for the firm. In addition to providing top-down guidance, the team develops holistic macro frameworks – spanning equities, FX and fixed income, to optimize returns and manage risks. The team also develops scenario analyses to project Temasek long-term equity returns.
Responsibilities
This role focuses on the link between macroeconomics and asset pricing behaviour in key markets, such as the US and China. Specific responsibilities can include:
- Quantify the impact of macroeconomic shifts (e.g., inflation prints, policy and central bank actions) on different asset classes (Equity, FX, Fixed income, and Commodities)
- Build and maintain data-driven dashboards using traditional and alternative datasets to monitor real-time shifts in global markets
- Coordinate and synthesise complex data into concise notes and presentations for senior committee briefings
- Conduct rigorous analysis of long-term structural themes, and identify different asset class performance in various macro regimes
Requirements
- Bachelor’s / Master’s / Ph.D. degree in economics, finance, or other quantitative disciplines
- Strong conceptual grasp of cross-asset correlations between macro drivers and financial markets
- High level of analytical rigor, with a focus on delivering both data-based research models and investor-ready presentations, and remain adaptable in a dynamic, fast-paced working environment
- Proficiency in data analysis tools for markets and macro (e.g., Bloomberg, LSEG workspace, CEIC, EViews, Python, or R) is preferred
- Prior work experience in economics or finance, with statistics skillsets will be advantageous, though not essential
