These days, the volatility reigns in the global markets. The US tariff decisions, the expectation around the Fed monetary policy, and the indefinition of key agreements such as Argentina’s with the IMF, generate a complex cocktail for investors.
Before this panorama, more than ever, it is key Keep the head cold and design a strategy based on fundamentals. The international context shows a global transition economy. While the United States faces inflationary tensions and growing fiscal challenges, Europe responds with fiscal stimuli, and China begins to recover land with expansive policies.
What to invest: Global Market
In this environment, the Short and medium term fixed income in the US It makes sense again, especially in sections where rates are still attractive.
The Variable income, meanwhile, requires greater selectivity: the defensive sectors (Health, “Utilities”) and The financial They show better perspectives than technological ones, although with the recent fall of the 7 magnificent are attractive for a long -term perspective, knowing that there may be volatility in the short term.
What to invest: local market
For Argentine investors, local reality imposes a Double look: The need to coverage and the Use of punished prices. Local actions suffered a strong correction in the first quarter, but maintain medium -term value, especially in sectors such as Energy, materials and bankswhere the Credit recovery can be an important catalyst.
In the plane of fixed income, the Sovereign debt in dollars continues to offer value for aggressive profiles, with Spreads compression space if the agreement with the IMF is specified.
For more profiles conservatives with pesos, Short Lecaps and Cer bonds remain useful tools for coverage compared to inflation that still resists dropping out of 2%.
For those investors looking for a rent in dollars Nothing better than Negotiable obligations like those of YPF, Pampa, Vista Energy or Telecom with rates close to 8% (IRR).
In short, rather than “Market Timing”, the challenge today goes through Build resilient wallets, diversified and with a clear reading of risk. In noise times, The strategy gains value. And patience, too.
Partner in AT Investments.-
Source: Ambito
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