Half Time Report – A Season of Dichotomy

When we think of a dichotomy, we tend to think of two opposing forces, such as light and dark or good and evil.

The Rationality Behind Market Irrationality

Amid discussions surrounding market outlooks, a common question we receive from clients is “why do markets act irrationally at times?” The efficient market hypothesis states that asset prices reflect all available information.

We hosted a live Q&A session with our Chief Investment Officer, Ahmed Riesgo, alongside Melissa Ochoa Cárdenas and Mauricio Viaud from our Research Team, sharing their insights and answering your most relevant market questions.

Riding the Waves 2025: PM Takeaways

Dancing With the Stars: Thoughts on the Fed’s Recent Meeting

As expected, Chairman Powell announced that the Federal Reserve was leaving the Federal Funds reference rates unchanged at a level between 4.25% and 4.5%.

Making Sense of Recent Market Volatility

They say that knowledge is power. However, recognizing what you know, as well as what you do not know, can be even more powerful.

Germany: Whatever it Takes

Friedrich Merz, Germany’s newly elected Chancellor, faces a difficult road ahead. He must govern the politically divided, economically broken, and increasingly fraught with geopolitical risk, core European nation of Germany.

Nvidia’s Earnings Report: It’s All Relative “Good, not great”, “underwhelming”, “subdued”. These were some of the ways in which the financial media described Nvidia’s fourth quarter earnings report this past Wednesday.

Let’s Talk Evolution: AI’s Evolution Think of a city being built from the ground up. The first things that must be built are roads, bridges, and power grids – the foundational infrastructure. Once these are in place, businesses start emerging and before you know it, an entire skyline takes shape atop the original infrastructure.

Distilling the Implications of US Tariffs
Over the past month, the world has been shaken by a dizzying number of policy announcements from the new Trump administration. One of the main sources of uncertainty centers around the use of tariffs. Whether they are a negotiating tool to achieve particular policy objectives, or a revived way to permanently fund the Federal government is beyond the scope of this report. Here, we are only striving to analyze the impact of such measures on the economy and markets.

Earnings Season: Half Time Report
With 60% of the companies in the S&P 500 having already reported earnings, several trends are beginning to emerge.

From the Uneventful to the Revolutionary: The Fed and DeepSeek

A Whirlwind. That is one way to describe this past week in U.S. financial markets. From the Federal Reserve, to DeepSeek, to earnings reports. The markets were not short of action to close the first month of the year.