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Artificial intelligence: Abundance or dystopia?
15/12/25 Weekly Analysis
Today we are going to pause for a moment on a topic that transcends the immediacy of the markets, but which will undoubtedly condition the economic, social and political tone of the coming decades: artificial intelligence. And we will do so with a question that captures, perhaps better than any other, the central debate about the real impact of this technology: is AI leading us towards an era of abundance or a dystopian future?
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The year 2026 is looking favorable in economic and financial terms
12/09/25 Weekly Analysis
Looking ahead to 2026, we maintain a constructive and generally steady outlook. The economic cycle continues to move forward with notable resilience, and we do not anticipate any substantial changes in global GDP growth, which will benefit from a more expansionary fiscal environment across the world’s major economies.
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Has AI reached its peak?
Podcast
12/04/25 Monthly analysis
We analyze the pause that large technology companies are experiencing after a year of exceptional increases, driven by the rise of artificial intelligence.
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Who could have thought we would end November in the black?
12/01/25 Weekly analysis
The past week has been particularly revealing. Not only because the risk indicators have shifted sharply towards clearly favorable territory, but also because what we pointed out a week ago has been confirmed by events: the previous correction was not the beginning of a change in trend, but a necessary purge to eliminate accumulated speculative excesses surrounding artificial intelligence.
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Black Friday bargains have arrived
11/24/25 Weekly analysis
Financial markets are going through a mixed spell. Recent weeks have brought bouts of marked volatility, with sharp swings that should not be read as the start of a bearish trend but rather as a clearing-out of excesses after months of gains concentrated in a handful of market segments.
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Between euphoria and caution
Podcast
11/17/25 Weekly analysis
This week in the global stock market has been marked by alternating periods of euphoria and caution.
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The stock markets take a break
Podcast
11/10/25 Weekly Analysis
Global equities have experienced a week of corrections after months of almost uninterrupted gains. This is not a change in trend, but a natural pause in a market that, after a cycle of substantial gains, is beginning to show signs of exhaustion.
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The Federal Reserve resumes rate cuts
Podcast
04/11/25 Monthly analysis
We analyze the consequences of this monetary shift
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We face the final part of the year with confidence
Podcast
03/11/25 Weekly Analysis
The market's momentum remains unequivocally bullish. After several weeks in which economic data, central bank decisions, and the earnings season have painted a more predictable picture, investor sentiment remains optimistic. The “Goldilocks” narrative — that near-ideal balance between moderate growth, contained inflation, and predictable monetary policy — continues to be the guiding thread for global markets.
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New all-time highs put things back on track
Podcast
10/27/25 Weekly Analysis
Markets ended the week on a constructive note, supported by a narrative that is starting to take shape: the soft-landing scenario is no longer just an expectation, but a reality increasingly confirmed by each new macroeconomic indicator.
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More noise than systemic risk
Podcast
10/20/25 Weekly analysis
Recent weeks have brought some tension back to global financial markets. The combination of specific episodes in the US regional banking sector and the trade conflict between the United States and China have rekindled volatility. However, our interpretation is still that this environment reflects more noise than systemic risk
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New trade threats end complacency
Podcast
10/13/25 Weekly Analysis
Beijing announced new export controls on essential elements for manufacturing semiconductors, batteries, wind turbines, and defense equipment, positioning China as a significant player with considerable influence over global industrial supply chains.
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The wave of artificial intelligence: history, disruption and the future
Podcast
10/6/25 Weekly analysis
A new wave of technology is crashing over us. Artificial intelligence is transforming the economy, society and our understanding of the world at an unprecedented pace.
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AI is trending
Podcast
10/02/25 Monthly analysis
The push for AI is consolidating megatrends in the fields of healthcare, energy, infrastructure and robotics. Our experts tell you all about it
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A broad overview of the third quarter of 2025
Podcast
09/29/25 Weekly analysis
The current global macroeconomic context offers both optimistic and cautious perspectives. Yet, underlying this positive outlook are economic policy tensions and risks that could alter the situation in the coming months.
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Meet our experts in financial market analysis
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Roberto Hernanz
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Álvaro Manteca
Roberto Hernanz
Álvaro Manteca
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