Fynsa
Los mejores días del mercado suelen aparecer en medio de las mayores caídas. Intentar anticiparse puede tener un costo mucho mayor que mantenerse invertido.
It seems to me that we have been unfair with the July activity data. It is true that it was below expectations and that it represents the lowest positive variation since February, but we believe that there are some elements to highlight, something that has been particularly complex during the last time.
Between the closing of the June IPoM statistics and its publication, relevant geopolitical events occurred that could alter part of its assumptions. Market reaction and global uncertainty seem to reinforce an already complex context. Even so, the report remains valid.
Global financial markets reflect the growing tension between Iran and Israel. Potential energy supply disruption threatens to reshape the economic outlook for the second half of the year.
In a market where finding yields is becoming increasingly challenging, perpetual bonds can offer an attractive alternative for investors.
Given the current market conditions, we expect to see sharp drops in interest rates during the second half of the year or early next year. Therefore, holding positions in these issuers would yield additional capital appreciation gains, in addition to the annual carry from interest accruals.
