Fynsa
The CPI rose 0.3% compared to the previous month, which was in line with our expectations, although slightly above market expectations. With this, the year-on-year variation remained at 3.4%, increasing expectations that the elusive 3.0% will soon be reached.
Having a sustainable impact is not limited to the creation of financial instruments by issuers and/or investors. The market also requires transparency, robust standards, and technical capabilities.
It seems that after years of constitutional uncertainty and failed reforms, the market perceives greater institutional clarity, coupled with converging downward rates. If these conditions consolidate, the dollar could move toward more "normal" ranges, even closer to $800 in the medium term.
In a market where housing demand continues to grow and supply continues to lag, regulatory signals for 2026 represent a possible turning point.
