October was another month of positive returns for both equities and the main fixed-income indices. This solid performance in the capital markets was mainly driven by an upturn in economic indicators, a better-than-expected earnings season, and another interest rate cut by the Federal Reserve.
The Spanish stock market is celebrating: its benchmark index, the IBEX 35, reached a new all-time high of 16,000 points on October 27.
The U.S. Federal Reserve has once again cut interest rates by 25 basis points, placing the range between 3.75% and 4%.
The Spanish Stock Exchange is experiencing a moment of euphoria. Eighteen years later, the IBEX 35 has reached all-time highs, surpassing 16,200 points and accumulating an increase of nearly 40% so far this year.
Value investing seems to be regaining followers. But, is this bet on value really materializing?
Discretionary portfolio management (DPM) is a service that has been gaining followers in recent years: it allows investors to delegate the management of their investments to experts.
Employment pension plans are a collective savings instrument created to supplement the public pension.
Although the markets seem to have relegated inflation to the background, its persistence in certain economies and the geopolitical factors that could reactivate it make it a risk that should not be overlooked.
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