A positive market response to the US elections results

In November, European equities closed the month up. Excluding the UK, however, European equities fell marginally due to a combination of concerns about US trade policy and earnings warnings from the automotive and consumer goods sectors. Consumer weakness in China and within domestic markets was cited as the cause in both cases. A strong Financials performance supported UK equities (+2.5%).

From election uncertainty to policy uncertainty

Although financial markets were already pricing a higher probability of a Donald Trump win coming into the US election, during November, asset prices were mainly driven by the election results.

Post-election realities

The US election results were a significant market driver, with Donald Trump’s victory and the Republican majority in Congress boosting expectations of tax cuts, deregulation, expansionary fiscal policy and a stricter trade policy.

Un paso adelante - Ideas de inversión para 2025

A lo largo del mes de diciembre, os invitamos a analizar juntos las principales temáticas y perspectivas sobre las diez cuestiones esenciales que afectarán a nuestras estrategias de inversión en 2025: políticas monetarias, transformación del modelo económico alemán, desaceleración del sector inmobiliario europeo, inteligencia artificial, sector bancario… Existen mucho retos y oportunidades.

¿Debería preocupar a la comunidad sostenible una Presidencia Trump 2.0?

La reelección de Donald Trump como presidente número 47 de Estados Unidos ha suscitado preocupación por sus repercusiones en temas clave de sostenibilidad, especialmente la acción por el clima.

Actualización del mercado sanitario y biotecnológico tras el nombramiento de RFK Jr.

Los sectores de la sanidad y la biotecnología han experimentado un bajón tras el inesperado nombramiento de Robert F. Kennedy Jr. como Secretario del Departamento de Salud y Servicios Humanos (HHS).

Deal with Trump 2.0

The results of the US elections are quickly being absorbed by financial markets, propelling US equity indices to new highs.

MAGA – Make Alternatives Great Again

During October, markets moved to price in a return of Donald Trump to the White House – and were ultimately proved right.

Positive on EUR rates against a backdrop of additional economic headwinds

This US presidential cycle was historic in many ways, not least in terms of the starkly contrasting policy agendas proposed by the opposing candidates.

Positive outlook for US equities

In October, European equities closed the month lower. European headline inflation was revised down to 1.7% year-on-year in September (from the preliminary 1.8%).

Entrevista con analista de sostenibilidad soberana ESG – ¿Por qué el agua?

Por ejemplo, considerando el enigma del automóvil. China domina toda la cadena de valor de los motores eléctricos de transporte. La Unión Europea ha impuesto aranceles provisionales para proteger a su industria automovilística regional del "dumping", o fijación de precios desleales, de las importaciones subvencionadas de vehículos eléctricos procedentes de China. Sin embargo, la UE está intentando acelerar la adopción de vehículos eléctricos para cumplir sus objetivos de emisiones para 2035.

Ballots to Bonds

Following the US election, what will the bond landscape look like around the world in the near term and the medium term? President-elect Trump should be able to implement much of his political agenda over the next few years. We think four themes stand out: Tariffs, Regulations, Tax Cuts, and Immigration. What we don’t yet know is the timing and the magnitude of these elements.