Perspectivas para 2026: renta fija
La visión del CIO Robert Ostrowski Executive Vice President, Chief Investment Officer ¿Cuál es su perspectiva para 2026? Los mercados de renta fija inician el nuevo año con un excedente de preguntas sin respuesta a pesar de que se respondieron algunas a lo largo de 2025. Hace un año, esperábamos una repetición del entorno posterior […]
Perspectivas para 2026: renta variable
La opinión del CIO Stephen Auth, CFA Executive Vice President, Chief Investment Officer, Equities ¿Podría 2026 marcar el inicio de una nueva era para la renta variable? El aumento de la productividad, la reactivación del crecimiento económico, la expansión de los márgenes y el reciente resurgimiento de los «animal spirits», junto con la política benigna […]
Yields look biased downward
Indications are that the US economy continues to expand – despite the short-term headwind of the government shutdown – spurred by consumer spending and strong business investment. Meanwhile, US Treasury yields remain choppy, moving marginally with each day’s shift in Fedspeak and market narratives. As we await resumption of official data releases, however, available signs still point […]
The pain is not in Spain: La economía de España se encuentra en pleno auge
No hace mucho, muchos escépticos consideraban a España, al igual que gran parte del sur de Europa, una economía estancada con perspectivas sombrías. Sin embargo, este año, el índice bursátil español IBEX 35 ha subido un 53 %. ¿Qué ha cambiado? De 2008 a 2014, España se vio gravemente afectada por la crisis financiera mundial […]
Weak UK economic outlook bolsters money market flows
The UK macroeconomic backdrop remains fraught and uncertain. The government is grappling with a ‘black hole’ in its finances and further tax rises are expected in the Autumn Budget scheduled for 26 November1. Rising levels of government debt continue to put pressure on borrowing costs – which are at their highest levels since the 1990s […]
A good quarter for rates and spreads as the bond market inches along
The third quarter produced constructive bond market performance with the Bloomberg US Aggregate Bond Index registering a 2.03% total return. The environment was positive for each of the major sub-sectors: US Treasurys, corporates (both investment grade (IG) and high yield (HY) and mortgage-backed securities. In fact, it’s hard to find a sector of the bond market […]
Las acciones chinas se disparan gracias al resurgimiento del sector tecnológico
Market snapshot
Lots of game left as we enter the fourth quarter
Investors anticipating a continuing rate cut cycle sometimes act like fans filling the stadium all dressed in white for the big home game. Confidence is high and may not reflect the underlying odds. After an up and down first three quarters of the year, as more of President Donald Trump’s policies begin to take effect, […]
Where can bond investors find value in a rate-cutting cycle?
Chartology
The end of exorbitant privilege?
EMD report Q3 2025
