Monthly Coffee Break

Monthly Coffee Break, Renta fija

De-correlation on both sides of the Atlantic

On rates markets, August and the first week of September were marked by a noticeable de-correlation on both sides of the Atlantic. While Euro rates moved sideways, Treasury yields declined significantly, especially at the short end of the curve. This shift and steepening of the curve reflects a weakening labour market, accelerating Fed rate cut expectations.
Monthly Coffee Break, Inversiones alternativas

Dovish Fed takes the upper hand

Activity paused leading up to the Jackson Hole Economic Symposium, where a potential pivot in Federal Reserve policy was revealed by Chairman Jerome Powell, hinting at a possible easing cycle.
Monthly Coffee Break, Renta variable

The US market still at the forefront

European equities were slightly higher in August but continue to underperform US equities. European macro data were mixed, with PMIs improving in manufacturing but weakening in services.

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