Fynsa
It is logical for investors to migrate to areas with higher yields, where UF bonds are attractive.
The attractiveness of time deposits is fading and leads to the search for riskier instruments with higher returns.
Historically, fixed-income securities begin to outperform cash before the Federal Reserve reaches its peak interest rate.
The Fed's actions led to a significant sell-off in dollar rates, with the 10-year treasury rate at a high of 4.50%, a level not seen since 2007.
We can expect that, as far as possible, the next cuts in the TPM will remain in the more conservative range of the corridor presented in the last IPoM.
The current outlook points to the worst-case scenario for the Chilean peso, with the local interest rate expected to reach 8% by the end of the year.
According to the Central Bank, the pace of future interest rate cuts is not tied to the magnitude of the first cut, thereby downplaying the urgency of quickly moving to a neutral level
And suddenly, interest rates are important again.
Despite higher financing costs and home prices than two or three years ago, the U.S. residential market will continue to perform well.
