Will Winzor-Saile

Will joined Redburn in 2015. Prior to this he worked as an Electronic Execution Specialist at Fidessa. Will holds a first-class masters in Maths and Physics from the University of Warwick.
The View from 5th AvenueBy Will Winzor-Saile

The View from 5th Avenue – 9 March 2026

Is it me or was the level of discussion regarding yesterday’s spring forward quite muted relative to year’s past? Maybe the harsh winter led to the nonchalant attitude but seeing a discrepancy between the time on my microwave and iPhone (far too early Sunday morning I might add) was a bit jarring. That would be a kind description for the market machinations recently. Investors continue grappling with an unexpected war and an uncertain timeline, the price of crude serving as a flag bearer of sor…

Trading the MacroBy Will Winzor-Saile

The GOLDilocks Economy?

Join us for the next in our series of calls as our Technical Analysis team joins forces with our Economics team ahead of a crucial Fed Meeting. Topics to be discussed include but are not limited to:
– Can the Fed pivot from QT to QE without causing market disruption?
– Which sectors should benefit, and what to avoid in any pivot?
– What are the potential implications for the US Dollar?
– What would it mean for liquidity? Credit / PE / Stress in the System?
– Potential implications from small and midcap rotations.
– What to expect from the UK Budget.
– Latest thoughts on Japan & China and the impacts of Fed policy in these regions.

Daily SnapshotBy Will Winzor-Saile

Daily Snapshot – 2 October 2025

Steady as she goes really – another day of Europe building on opening highs, and volumes much healthier than what we’ve seen in recent times. Refreshing, to say the least. Saying that, there’s no shortage of pain out there at the minute as the main story continues to one of shorts being squeezed aggressively. ASML’s +74% rebound off April lows says it all; LVMH’s +24% lift is the same theme, on a smaller scale. Broker upgrades aside, positioning continues to take precedence over fundamentals.

Daily SnapshotBy Will Winzor-Saile

Daily Snapshot – 15 July 2025

Interesting snippet from the Times here, which states that UK insurance brokers have seen a near tripling in life insurance enquiries and driven by individuals looking to get ahead of Chancellor Reeve’s upcoming inheritance tax reforms which take effect next April. 2024 saw more billionaires created to inheritance rather than entrepreneurship, so its fair to say this is definitely a topical subject at the minute and what caught my attention was the stark disparity in rates across Europe, with S…

Execution AnalyticsBy Will Winzor-Saile

Buyback to the Drawing Board

Over recent years we have seen a surge in corporate buybacks as the preferred way to deliver value to shareholders.

As someone who has spent years studying institutional trading and market structure, a buyback sounds like the perfect order; they are long running, passive trades with huge broker discretion. Yet for some reason, they often appear to be traded in a very clumsy fashion.

In this paper we review some recent buybacks and see how much a poorly executed buyback can really cost the corporate issuer and their shareholders.

Trading the MacroBy Will Winzor-Saile

Ahead of the Fed – Holding out for a Hero? (US)

Please join us as our Economics, Equity Strategist and Technicals teams join forces to explore the biggest themes in the market so far this year. Topics for discussion will include:
· a check on our macro ‘Top 10 things To Watch’ list
· What do US growth fears mean for the S&P?
· US vs EU. Has the tide genuinely turned?
· What can the Fed do next?
· The growth vs value debate
· Key market levels to keep an eye on
· And more…..

Trading the MacroBy Will Winzor-Saile

Ahead of the Fed – Holding out for a Hero? (Europe)

Please join us as our Economics, Equity Strategist and Technicals teams join forces to explore the biggest themes in the market so far this year. Topics for discussion will include:
· a check on our macro ‘Top 10 things To Watch’ list
· What do US growth fears mean for the S&P?
· US vs EU. Has the tide genuinely turned?
· What can the Fed do next?

· The growth vs value debate
· Key market levels to keep an eye on
· And more…..

Trading the MacroBy Will Winzor-Saile

What lies ahead in 2025? US

Lots of questions on what’s to come in 2025 and we aim to answer them with the first in our series of calls this year aimed at Execution dealing desks. Please join us as our Economics, Equity Strategist, Quant and Technicals teams join forces to explore the biggest themes of the year ahead. Topics for discussion will include:
– Our macro ‘Top 10 things To Watch’ list

– US vs EU. Will the US remain the dominant force?
– Where will yields go and what does it mean for last year’s leaders

– The growth vs value debate
– Key market levels to keep an eye on
– And more….