Boletín Mensual

Nuestro Boletín Mensual ofrece una visión general de los recientes movimientos de los mercados financieros, de los principales indicadores económicos y de la evolución de las distintas clases de activos. También encontrarán nuestras perspectivas sobre la estrategia de inversión actual y una actualización de la actividad de las carteras.

Newsletter | Enero 2026

Newsletter | Enero 2026

Gold briefly reached a new high of around 5,600 before “flash crashing” to around 4,700 21.3% PERFORMANCE OF URANIUM Investment perspective Global risk assets extended last year’s momentum, with equity indices flirting with new highs while precious metals experienced...

Newsletter Diciembre 2025

Newsletter Diciembre 2025

Market expectations of a Fed cut in December surged to around 85-87% from under 40% a few weeks ago 17.2% PERFORMANCE OF SILVER Investment perspective The macro backdrop remained resilient, despite the lack of publications due to the US government shutdown. Growth in...

Newsletter | Noviembre 2025

Newsletter | Noviembre 2025

Following its Q3 earnings report on October 30th, Amazon’s stock surged about 10-12% in after-hours trading. 16.64% PERFORMANCE OF NIKKEI 225 Investment perspective Historically, October has a reputation for being a challenging month for the stock market, largely due...

Newsletter Octubre 2025

Newsletter Octubre 2025

Gold has climbed above $4,000 a troy ounce for the first time, Gold hit $4,036 early on Wednesday 11.9% PERFORMANCE OF GOLD IN SEPTEMBER Investment perspective The global economy is showing resilient, albeit slowing, growth, with projections of around 3.2%-3.3% for...

Newsletter | September 2025

Newsletter | September 2025

Federal Reserve Chair Jerome Powell opened the door ever so slightly to lowering key interest rate in the coming months 12.8% PERFORMANCE OF THE CHINA A ONSHORE INDEX IN AUGUST Investment perspective Forecasts for real GDP growth in the second half of the year suggest...

Newsletter | August 2025

Newsletter | August 2025

The US Federal Reserve held interest rates steady; speculation persisted regarding potential rate cuts in the fall. 5.8% PERFORMANCE OF THE MAGNIFICENT SEVEN INDEX IN JULY Investment perspective Last month was characterised by fragile global economic resilience,...

Newsletter | June 2025

Newsletter | June 2025

The US Congress has passed a tax bill that will boost the budget deficit. 7.2% PERFORMANCE OF THE EUROPEAN MID-CAP INDEX IN MAY Investment perspective Geopolitical and economic factors persisted in May, most notably the ongoing impact of punitive tariffs introduced by...

Newsletter | May 2025

Newsletter | May 2025

The IMF has cut its growth forecast for global economic growth this year to 2.8%, compared with 3.3% in January 25.3% PERFORMANCE OF GOLD SINCE THE BEGINNING OF THE YEAR Investment perspective April will be remembered as the month of tit-for-tat tariffs, with the...

Newsletter | April 2025

Newsletter | April 2025

The Swiss National Bank cuts its key interest rate by 25 basis points to 0.25 per cent in March 11.4% PERFORMANCE OF COPPER Investment perspective We have an almost unanimous consensus that recent soft data, such as surveys, are pointing to a likely deterioration in...

Newsletter | March 2025

Newsletter | March 2025

The ECB cuts interest rates to 2.5% as inflation in Europe is under control -8.7% PERFORMANCE OF THE MAGNIFICENT SEVEN Investment perspective The outstanding feature of the beginning of this year has undoubtedly been the remarkable performance of European equities...

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