Fynsa
August's surprise does not even give reason to hope for a softer deceleration: we preliminarily estimate a variation of Imacec in September between -2% and -1.5% YoY.
In the last twelve months, assets in alternative asset funds have grown by 38.46%.
While the Central Bank is doing everything possible to lower inflation, the work of the public and private sectors must focus on productivity, the only way to generate wealth without boycotting the work of monetary policy.
If anyone still had any doubts that the U.S. Federal Reserve is focused above all on meeting its inflation target, those doubts were dispelled this week.
Currency depreciation, global logistical difficulties and the consumption boom, among other factors, formed a toxic cocktail that has been more difficult to combat than previously thought.
The Central Bank decided to raise the rate to the highest level of this cycle, which eventually led to disagreement among the board members.
The main characteristics of private debt are that it is a widely used investment instrument in the SME (Small and Medium Enterprises) markets and that they are issued at floating rates.
In the new macro framework, we see little change to the expected growth for 2022, but we do not rule out a further downward adjustment to 2023.
Unless the "peak inflation" narrative is confirmed by both the data and a moderate policy pivot by the Fed, we believe the risk of a return of rate shocks and recession fears could once again weigh on risk appetite.
