Podcast

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.

01/19/2026 Weekly analysis

It is worth analyzing the new measures announced by the Trump Administration to penalize several European countries that have deployed troops in Greenland.

12/01/2026 Weekly analysis

There is a phrase attributed to Lenin that comes back to haunt us in times like these: There are decades when nothing happens, and weeks when decades happen. The start of 2026 fits that definition with disturbing precision.

12/29/25 Weekly Analysis

2025 was marked by profound political and economic readjustments, a high dispersion in the markets and a remarkable capacity for adaptation in the global economy. We'll tell you all about it in this podcast.

12/22/25 Weekly Analysis

The close of 2025 presents a reasonably constructive macroeconomic and market picture, although not without important nuances that are worth noting.

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?

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.

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.

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.

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.

Podcast

11/17/25 Weekly analysis

This week in the global stock market has been marked by alternating periods of euphoria and caution.