Podcast

04/20/2026 Weekly analysis

The adage "stock markets tend to go up by the stairs and down by the elevator" is widely used in the investment industry. It makes sense: The increases are built up gradually, as macroeconomic data supports a favorable cyclical situation and corporate profits materialize. However, when an unexpected and potentially systemic event occurs, risk premiums react violently, and the market does not hesitate to "take the elevator" down.

04/06/2026 Weekly analysis

Our view on risk assets remains constructive, although necessarily tempered by a highly uncertain environment in the short term. 

Podcast

04/09/26 Monthly analysis

Lots of noise and many doubts among investors

03/30/2026 Weekly analysis

Recent behavior in fixed-income markets has once again brought to the forefront a concern that is very much present in investors’ minds: the possibility of reliving a scenario similar to that of 2022.

March 23, 2026 Weekly analysis

In recent weeks, global equity markets have registered a correction from highs of slightly more than 7%. While it is not a matter to be trivialized, it is not, by any means, exceptional. In fact, if we broaden our focus, these types of drops are part of the normal behavior of the markets. 

March 16, 2026 Weekly analysis

In recent weeks the market has begun to pay more attention to another potential risk area: private credit. Recent headlines and comments from some analysts have drawn attention to this segment of the financial system, fueling some concern among investors that the sector’s rapid growth might conceal vulnerabilities similar to those that preceded past financial crises.

03/09/2026 Weekly analysis

Last week was dominated by the rapid escalation of the conflict between the United States, Israel, and Iran, and its immediate impact on energy and financial markets. The most visible move was the sharp rebound in oil, which initially exceeded $90 per barrel and approached $120 at the start of the week, after recording one of the largest weekly gains in recent decades. This move reflects the risk of supply disruption in one of the most critical regions for the global energy trade.

March 02, 2026 
 

Last week reminded us once again that, in 2026, investing is not a purely economic exercise. It is increasingly becoming a political and geopolitical exercise.

03/01/2026 Weekly analysis

In recent days, one of the documents that generated the most impact on the markets was a report from Citrini Research that came with a disturbing hypothesis. 

01/26/2026 Weekly analysis

One of the most relevant developments that will leave its mark on 2026 will be the growing tension between the acceleration of technology and its effects on employment, income and social cohesion. This is not entirely new, but it is now entering a qualitatively distinct phase, both because of the speed of the change and its universal scope.

Podcast

12/04/25 Monthly analysis

Has AI reached its peak? 

We analyze the pause that large technology companies are experiencing after a year of exceptional increases, driven by the rise of artificial intelligence.

02/09/2026 Weekly analysis

For years, investing seemed like a comfortable exercise. It was enough to identify the dominant narrative, jump on board, and let the market do the rest. Technology, artificial intelligence, precious metals, Bitcoin… each one, in its time, was presented as a simple answer to a complex world. Today, that comfort has been shattered.

02/23/2026 Weekly analysis

Last week reminded us once again that, in 2026, investing is not a purely economic exercise. It is increasingly becoming a political and geopolitical exercise.

02/16/2026 Weekly analysis

For more than a decade, and especially since the pandemic, passive management has dominated the investment landscape, supported by a very specific reality: low dispersion, abundant liquidity, and a market absolutely dominated by momentum.

02/02/2026 Weekly analysis

Last Friday's session saw an abrupt and widespread sell-off in the commodities market. The movement was visible throughout the industrial metals complex, but it proved especially virulent in the precious metals sector.