December 19, 2025

Daily commentary

Positive end to the week for equities globally, with the Nasdaq gaining 1.2% and the US market up 0.9%, while in Asia the Japanese Nikkei gained 1% and in Europe the FTSE100 led the way with +0.6%. As for rates...
December 18, 2025

Daily commentary

Asian equities recovered, European markets ended mixed but with slight variations, and in the US we saw sharp sell-offs in technology, with the Nasdaq falling 1.8% and the S&P 500 falling 1.16% amid risk reduction...
December 17, 2025

Daily commentary

Asian equities recovered, European markets ended mixed but with slight variations, and in the US we saw sharp sell-offs in technology, with the Nasdaq falling 1.8% and the S&P 500 falling 1.16% amid risk reduction...
December 15, 2025

Daily commentary

Equities fell by up to 1.5% in Asia, rose by an average of 1% in Europe, and ended with slight declines in the US, in a session without any major news. Treasuries gained in the morning but gave up their gains to end essentially flat, while in Europe bonds...
December 11, 2025

Daily commentary

Outperformance marked the Dow (+1.3%) over the Nasdaq (-0.36%) today in a shift from tech to value following a disappointing quarterly report from Oracle, following gains in Europe and declines in income...
December 5, 2025

Daily commentary

Yields continue to rise in the US and Europe, seeing an increase of 4bps across the Treasury curve and in the main European IG countries (except France), reaching 4.8% on the 30-year, the highest level in three months, despite expectations of a cut by the Fed on Wednesday. Equities end with modest gains in the US and Asia.
December 4, 2025

Daily commentary

Treasuries fell alongside European sovereign bonds, with yields rising 4bps in the US and 3bps in Europe, against a slight decrease in the probability of a Fed rate cut next week to 93%. In equities, Asia and Europe rose, while US value stocks lagged behind and the S&P and Nasdaq rose at the end of the day after trading in the red for most of the day, in a session of...
December 3, 2025

Daily commentary

American industrial production was in line with expectations, with slight growth of 0.1% for the month, in what was a positive session for most assets globally, although prices remain stable. In equities, the Dow led the American indices, rising almost 1%, while...
December 2, 2025

Daily commentary

Trump said he had a "very good" conversation with Xi, and said he will visit China, leading to a risk-on wave in Chinese and U.S. assets, gaining 2.7% on the Nasdaq and 1.55% on the S&P500 in what will be a short market week because of the U.S. Thanksgiving holiday on Thursday. Treasuries rose across the curve...