November 20, 2025

Daily commentary

A favorable quarterly report from Nvidia brought a very good start to the session for risk assets, particularly equities, with the Nasdaq up more than 2.5% at one point, but the tone changed completely with an aggressive wave of selling after noon, which led the indices to close sharply lower...
November 19, 2025

Daily commentary

Stocks rise after Nvidia rallies ahead of earnings release. Wall Street traders pushed the market higher ahead of earnings from Nvidia Corp, whose bar has been raised amid doubts about whether its revenue will justify the billions of dollars spent on artificial intelligence...
November 18, 2025

Daily commentary

New risk-off session in the markets, being marked by falls of more than 3% in the Nikkei, 1-2% in Europe and in the US they reached more than 2% but recovered to close less than 1% down. Treasuries were safe haven, but ended with only a slight bull steepener, with short yields dropping 4bps...
November 18, 2025

Market Flash

U.S. Treasury yields rebounded during the week after the longest government shutdown in U.S. history came to an end after 43 days. In positive news, the shutdown ended on Wednesday after President Trump signed a spending bill that will allow funding...
November 17, 2025

Daily commentary

Global risk-off to start the week, with U.S. equities finishing as the worst performers falling between 0.8-1.2% for the three major indices, following declines of less than 1% in Asia and -0.8% average for European indices as alarm bells continue to sound on high valuations and credit problems....
November 14, 2025

Daily commentary

The week ended with a wave of selling in Asian and European equities, whose indices fell more than 1%, infecting the start of the US session where the Nasdaq fell almost 2% at the opening but then we saw a significant wave of buying that led both the Nasdaq and the S&P to close flat. In fixed income, we also saw selling, with yields rising in both Europe and the US by 3-4bps...
November 13, 2025

Daily commentary

Although an agreement was reached to reopen the U.S. government, the economic data expected today was not released and the market had a completely risk-off session despite the lack of news. Equity indices...
November 7, 2025

Daily commentary

Strong risk-off in the morning following yesterday's sell-off, with the Nasdaq down -2% again, before recovering sharply in the afternoon to close down -0.2%, while the S&P500 and Dow closed flat; previously, Asia and Europe had declines of up to 1% ...