09/14/2026 Weekly analysis
The sharp correction currently affecting global fixed-income markets is understandably causing concern among investors. Sovereign bond yields have reached levels not seen in many years: the 10-year US government bond yield is approaching 5%, the German bond with the same maturity has reached 3.5%, and long-term rates have also risen sharply in the UK, Japan and other developed markets.
09/07/2026 Weekly analysis
Markets are entering September in a particularly interesting position. After a very strong year for risk assets, the short term presents enough headwinds to warrant greater caution in the coming weeks. But it is important to distinguish between factors that may generate temporary volatility and those that could actually change the direction of the cycle. For now, however, we believe that the major fundamental supports that have driven markets over the past few years remain intact.
08/10/2026 Weekly analysis
In the markets we tend to assume that success involves identifying the next big trend before anyone else. However, the recent history of a well-known fund specializing in AI reminds us that, when it comes to investing, being right may not be enough.
08/31/2026 Weekly Analysis
The MSCI ACWI index, which represents global equities, hit a low of 550 points on October 12 of that year. Today, it stands above 1,150 points. In less than four years, the global stock market has more than doubled in value.
Did the world suddenly “get fixed” at that precise moment? Did everything start going right? Nothing could be further from the truth. The market began climbing the wall of worry at that point, and it hasn't stopped since. In this podcast, we'll take a journey through 10 crises that have unfolded over the past four years but have failed to derail one of the strongest sustained bull runs of the past few decades.
08/24/2026 Weekly analysis
For many years, we lived in a world where money seemed to be plentiful. Governments could borrow at extraordinarily low interest rates, companies could easily finance almost any project, and millions of families were able to take out mortgages at rates that would be hard to imagine today. In Europe, we even experienced negative interest rates: lending money to some governments meant accepting that we would get back less than we had lent. We became so accustomed to that situation that we eventually came to see it as normal. However, that era has come to an end, and it is becoming increasingly clear that those years were the real exception.
08/17/2026 Weekly analysis
Our bodies function on the basis of an energy balance. The difference between the calories we consume and the calories we expend determines, over time, how our energy reserves evolve.
Our personal finances follow a surprisingly similar logic. The difference between what we earn and what we spend determines our ability to save and, over time, to accumulate wealth.
08/10/2026 Weekly analysis
In the markets we tend to assume that success involves identifying the next big trend before anyone else. However, the recent history of a well-known fund specializing in AI reminds us that, when it comes to investing, being right may not be enough.
08/10/2026 Weekly analysis
In the markets we tend to assume that success involves identifying the next big trend before anyone else. However, the recent history of a well-known fund specializing in AI reminds us that, when it comes to investing, being right may not be enough.
08/04/2026 Weekly analysis
In recent weeks, we have seen a number of developments that illustrate the extent to which artificial intelligence is entering a new phase. The most recent example is Nvidia, which has once again taken center stage with a new set of agreements aimed at accelerating the development of the sector.
07/27/2026 Weekly analysis
The next few days could make for one of the most important weeks of the summer for the markets. After several weeks marked by geopolitical uncertainty and doubts about the profitability of investments in AI, investors now have an opportunity to check if the main pillars that have supported the stock markets this year remain intact.
07/20/2026 Weekly analysis
The second quarter results season kicks off in Europe with expectations that we haven't seen for years. After a long period in which profit growth lagged far behind that recorded in the United States, European companies are facing this campaign with the possibility of achieving the biggest change in their earnings since the beginning of 2023.
07/13/2026 Weekly analysis
The composition of wealth in the United States has undergone an unprecedented structural transformation. For the first time since statistical records began, 34% of total US household wealth is invested in equities. This milestone not only represents a historic high, but also confirms the formal dethroning of the property sector as the main vehicle for household savings, with its relative share of national wealth declining to 26%.
07/06/2026 Weekly analysis
This week, the United States celebrated the 250th anniversary of its independence. Beyond the historical symbolism, the anniversary gives us a magnificent excuse to do an exercise that investors perform far too infrequently: to stop looking at the last week, the latest inflation data or the next Federal Reserve meeting and to broaden the time horizon.
