Morning View

12/09/2025
12/09/2025

In the United States, indices continued to rise after inflation data was released.

International

In the United States, August inflation data was released yesterday, which was broadly in line with expectations, except for the overall monthly measurement, which was slightly above projections. Stock indices continued to rise yesterday, with the S&P 500 advancing +0.9%, the Nasdaq +0.7%, and the Dow Jones +1.4%. So far this year, the indices have accumulated gains of +12%, +14.1%, and +8.4%, respectively.

Meanwhile, U.S. Treasury bond yields did not change significantly. The 1-year bond closed with a yield of 3.63%, down from 3.66% previously, while the 3-year bond rose slightly from 3.49% to 3.50% and, finally, the 10-year bond closed at 4.02%, down from 4.04% previously.

Finally, commodities saw mixed movements. Gold fell slightly by 0.1% and closed at USD 3,636.4 per ounce, while WTI and Brent crude oil also fell by 2.3% and 1.8% respectively, closing at USD 62.2 per barrel for WTI and USD 66.3 for Brent. Finally, soybeans advanced +1% and closed at USD 373 per ton.

 

80%

Sources: PUENTE Hnos, Bloomberg

100%

11/09/2025
11/09/2025

In the United States, inflation in August was +2.9% year-on-year.

International

In the United States, the Consumer Price Index (CPI) was released this morning. The August figure was +0.4% month-on-month and +2.9% year-on-year. Although the monthly figure was above the expected +0.3%, it remained in line with the year-on-year figure. The core index, which excludes food and energy, stood at +0.3% month-on-month and +3.1% year-on-year, also in line with analysts' projections.

Meanwhile, the European Central Bank held its monetary policy meeting. The benchmark interest rate remained unchanged at 2.15%, highlighting that inflation is under control and that no changes have been made to its forward-looking projections in this regard.

The main US stock indices traded mixed. The S&P 500 advanced +0.3%, while the Nasdaq closed flat and the Dow Jones fell -0.5%. So far this year, the indices have accumulated variations of +11.1%, +13.3%, and +6.9%, respectively.

Meanwhile, US Treasury bond yields compressed slightly. The 1-year bond closed with a yield of 3.66%, down from 3.67% previously, while the 3-year bond compressed from 3.51% to 3.49% and, finally, the 10-year bond closed at 4.04%, down from 4.08% previously.

 

80%

Sources: PUENTE Hnos, Bloomberg

100%


Latest Market Overview


LOG IN ASK FOR
FOR AN ADVISOR CALL