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...
February 2, 2026

Daily commentary

Treasuries fell across the curve, with yields rising by an average of 4bps, slightly more than European sovereigns, amid a recovery in equities in the US and Europe, while in Asia we saw declines of up to 2%, lagging behind the effect of Friday's US declines. In commodities... 
January 30, 2026

Daily commentary

Gold and silver once again captured the market's attention today, falling 9% and 27%, respectively, abruptly ending the rally of recent weeks. American and Asian equities also fell, while European equities rose slightly. Treasuries, for their part, mostly...
January 29, 2026

Daily commentary

Strong sell-off in tech stocks, reacting to a disappointing quarterly report from Microsoft, with the Nasdaq falling as much as 2.5% before recovering to close down 0.75%; the Dow rose 0.11% and the S&P 500 fell 0.15%. Treasuries rose slightly, similar to European sovereigns, with yields falling 2-3bps...
January 28, 2026

Daily commentary

In a FOMC meeting without much significance, the Fed left the benchmark rate unchanged as expected, remaining at 3.5-3.75%, where futures expect it to remain for at least the next two meetings; pointing to two 25bps cuts in 2026, one between June and July and the next at the end of the year. Equities...