February 23, 2026

Daily commentary

Treasuries advanced (yields -4-6bps) alongside European sovereign bonds, acting as a safe haven amid equity sell-offs, which remain erratic, with US indices falling 1% on average and European indices falling 0.25% with Asia closed. In commodities, metals...
February 17, 2026

Daily commentary

A volatile session to start the week, with the Nasdaq falling more than 1% at one point, but ending in the green after a positive day in Asia and Europe. Treasuries closed with a slight bear flattener, with short-term bonds falling and medium- and long-term bonds closing flat, while...
February 13, 2026

Daily commentary

Treasuries rose for the fourth time in five sessions, with the short end of the curve at its lowest yield in six months, while the spread with the long end remains close to the high for this period, at 124bps for the 2y-10y and 129bps for the 2y-30y. US equities...
February 12, 2026

Daily commentary

Treasuries rose sharply in a marked risk-off session despite no news or impactful data, with long-term yields falling by up to 8bps to their lowest level in three months. In equities, the Nasdaq fell 2% and the S&P 500 1.5%, following negative sessions in Asia...
February 11, 2026

Daily commentary

Treasuries gave back some of yesterday's gains, reacting to a strong jobs report that caused a bear steepener, with short-term yields rising 6bps and long-term yields rising 3bps; in Europe, yields fell 2-3bps. In equities, mixed results globally but little change...
February 9, 2026

Daily commentary

After a surge that added $1 trillion to the S&P 500's value at the end of last week, the index continued to climb, approaching its all-time highs. The names extended a consecutive advance to nearly 7%. Oracle Corporation rose 9.6%. Alphabet Inc...
February 6, 2026

Daily commentary

Significant recovery in European and American equities, rising 1% and 2% on average, respectively, with the Dow Jones reaching 50,000 points for the first time in its history. Treasuries fell across the curve, in a bear flattener that saw short-term bonds fall more than long-term bonds...
February 4, 2026

Daily commentary

Sales continue in US technology and growth equities, with the Nasdaq falling more than 2% before recovering and closing down 1.5%. Previously, Asia and Europe closed mixed at 0.75%. Treasuries closed flat, while in Europe sovereign bonds...
February 3, 2026

Daily commentary

Strong sales in US equities, with the Nasdaq falling 2% and the S&P 500 falling 1.26%, while Asia saw a recovery and Europe saw slight variations. Rates rose again in Europe, with the German 30-year yield reaching its highest level since 2011 (3.55%). In commodities, metals...