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Global Macro Strategist & Managing Partner

Phillip Colmar

Phillip Colmar has 20+ years of experience, both as a strategist and economist. He focuses on global multi-asset investment strategy, trading opportunities, and financial market risks. His expertise is in identifying and developing macro and investment themes. He has a proven track record of idea generation and outperforming the markets. Over his career, Colmar has covered all major global asset classes and has developed comprehensive frameworks, models, and indicators. Prior to forming MRB, he was the Head of both the Daily Insights and Global Fixed Income Strategy services at BCA Research Inc. Colmar has an M.Sc in Finance from Queen’s University, as well as a B.A. in Economics and a Bachelor of Business Administration (Finance) from Bishop’s University.

3 articlesLinkedIn ↗
Contributor Brief·Phillip Colmar · 3 articles
Updated Jan 9, 2024

Higher rates force telecom to abandon traditional capex models entirely

Colmar argues that rising interest rates under 'higher for longer' policy regimes fundamentally invalidate the traditional telecom infrastructure investment playbook, forcing providers to reshape capital spending priorities rather than merely adjust financing costs. He contends that flexibility and adaptability—not predictive forecasting—are the only viable strategic responses when economic conditions remain structurally uncertain.

thin margins

infrastructure margins already squeezed by rising borrowing costs

“Telecom providers must fundamentally reshape capital spending priorities as borrowing costs squeeze already thin infrastructure margins.”

Rising Rates, Rethinking Routes (engineering and construction)

Strategic imperatives for telecom under high-rate regimes

Abandon traditional capex models9
Prioritize capital spending flexibility8
Rethink infrastructure investment timing8
Adapt to uncertain rate forecasts7
Squeeze operational margins6

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24%Abandon traditional
Abandon traditional capex models
Prioritize capital spending flexibility
Rethink infrastructure investment timing
Adapt to uncertain rate forecasts
+1 more

3 articles

exploring same thesis across different sectors and audiences

Economic forecasts remain divided on rate movements, making flexibility the smartest strategy for investors navigating 2024.

With Uncertainty on Inflation and Interest Rates in 2024

Central banks adopting 'higher for longer' interest rate policy reshapes how telecom companies adjust investment strategies entirely.

Rising Rates, Rethinking Routes (software and technology)

“When forecasts divide, adaptability becomes the only certain bet for capital allocation.”

Themes:Higher-for-longer rates invalidate legacy telecom infrastructure modelsAdaptability supersedes forecasting when uncertainty dominatesCapital discipline reshapes sector-specific investment priorities

Latest article

Software & Technology · Jan 9

Rising Rates, Rethinking Routes: The Future of Telecom Infrastructure Investment in a High-Interest World

In light of the global trend of central banks adopting a ‘higher for longer’ interest rate policy, how will telecom companies adjust their investment strategies in response to the increased cost of capital? What implications will rising borrowing rates have for the future of telecom infrastructure investment? Phillip Colmar, Global Macro Strategist at MRB Partners,…

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Rising Rates, Rethinking Routes: The Future of Telecom Infrastructure Investment in a High-Interest World

Connect with Phillip Colmar

Engineering & Construction

1 article

Business Services

1 article

Community

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  • AM
    Alex M.·2h agoquestion

    What sparked your research into disruptive innovation?

    Curious what the original insight was that led you to the Innovator's Dilemma framework.

  • SL
    Sophia L.·1d agoidea

    Would love a deep-dive into EdTech adoption barriers.

    Your framing of sustaining vs. disruptive innovation feels directly applicable to school systems.

  • DR
    David R.·3d agoquestion

    How do you see AI changing the personalized learning landscape?

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