Fynsa
The current context forces us to have a much more selective allocation, still with a certain overweight in equities.
The founders of the world's leading unicorns are choosing Miami as their new home.
The US yield curve has shown an increase in the implied probability of recession in recent weeks.
Complicated scenario for the refinancing of high-yield companies
Assessing U.S. Recession Risks: If there were indeed a recession, what would it look like?
Different methodologies show an increasing, but still moderate, probability of recession in the short term.
We have seen a week with tighter relative spreads in the region.
After a first half of the year with several headwinds, we believe that the risk-reward ratio, which is critical for risky assets, is likely to improve in the second half of the year.
