<\/p>\n
\u2013 La possible millora de la inflaci\u00f3 als EUA a la vista de les \u00faltimes dades de l\u2019IPC.<\/p>\n
\u2013 Els preus de la producci\u00f3, que s\u2019han situat per sota de les previsions.<\/p><\/blockquote>\n
Encara que, el mercat laboral es mant\u00e9 tensat a l\u2019espera de veure com afectaran els acomiadaments massius, anunciats el mes passat per les grans empreses tecnol\u00f2giques.<\/p>\n
D\u2019aquesta manera, tal com apunten tots els senyals, la inflaci\u00f3 ja hauria tocat sostre als EUA (i en abs\u00e8ncia d\u2019una escalada en el preu del gas), les lectures haurien de comen\u00e7ar a caure en 2023. Aquest escenari ha comportat que la FED anunci\u00ef un alentiment en les pujades dels tipus d\u2019inter\u00e8s.<\/p>\n
\nCONSEQ\u00dc\u00c8NCIES EN ELS MERCATS FINANCERS<\/h5>\n
Conseq\u00fcentment, els mercats financers ja ho han descomptat amb conseq\u00fc\u00e8ncies importants:<\/p>\n
\u2013 Renda Fixa
\nTant governamental com corporativa, es van convertir en oportunitats d\u2019inversi\u00f3. Gr\u00e0cies al fet que es contempla la fi de la pujada o una menor al\u00e7a de tipus d\u2019inter\u00e8s pel mercat. Per exemple, el v\u00e8rtex de bons corporatius va acabar amb un ral\u00b7li del 4,02%.<\/p>\nAquest entorn de canvi, en l\u2019orientaci\u00f3 de la pol\u00edtica monet\u00e0ria de la FED, va afavorir la depreciaci\u00f3 significativa del d\u00f2lar en un 5,3% contra l\u2019euro.<\/p>\n
\u2013 Renda Variable
\nHa estat un mes positiu, amb pujades significatives en totes les \u00e0rees geogr\u00e0fiques. El v\u00e8rtex dels EUA va finalitzar amb una rendibilitat del 5,01% i un 6,91% l\u2019\u00edndex europeu. Destacar la pujada de l\u2019\u00edndex Emergents d\u2019un 11,24% gr\u00e0cies, principalment, a les bones dades procedents de la Xina sobre una lleugera relaxaci\u00f3 en la pol\u00edtica de Covid 0 i la distensi\u00f3 en les relacions amb els EUA.<\/p>\n<\/p>\n
\nPOSICIONAMENT ESTRAT\u00c8GIC DE LES NOSTRES CARTERES<\/h5>\n
Davant aquesta situaci\u00f3, la nostra cartera estrat\u00e8gica, continua implementada per a fer front a una inflaci\u00f3 persistent amb un menor creixement, via:<\/p>\n
\u2013 Renda Fixa
\nAquest mes la FED ha aconseguit assentar les expectatives d\u2019inflaci\u00f3. D\u2019aquesta manera, continuem introduint m\u00e9s durada a les carteres mentre ens centrem en la part de m\u00e9s qualitat credit\u00edcia davant el menor creixement esperat.<\/p>\nIncrementem la durada mitjan\u00e7ant l\u2019entrada d\u2019un fons global de bons corporatius investment grade amb major durada.<\/p>\n
En l\u2019\u00e0mbit global, en aquesta classe d\u2019actiu, continuem centrats en baixes durades, bons flotants i algun fons m\u00e9s oportun\u00edstic.<\/p>\n
\n\u2013 Renda Variable
\nContinuem infraponderats mentre mantenim la cautela en aquest actiu. Les expectatives de beneficis encara no descompten completament els riscos per al creixement. Estar diversificats \u00e9s la clau per a aportar m\u00e9s estabilitat a la cartera en aquests moments d\u2019incertesa.<\/p>\nQuant a tipologia, preferim fons invertits en companyies de qualitat i amb poder de fixaci\u00f3 de preus per a poder traspassar l\u2019increment de preus al client final, amb una visi\u00f3 m\u00e9s a llarg termini o fons amb creixements estables i sostinguts. Com serien, per exemple, els sectors defensius. D\u2019altra banda, estar diversificats en diferents \u00e0rees geogr\u00e0fiques ens aporta descorrelaci\u00f3 a la cartera.<\/p>\n
<\/p>\n
<\/p>\n
_
\nGinvest AM<\/p>\n<\/p>\n
<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Novembre ha estat un mes molt marcat per: – La possible millora de la inflaci\u00f3 als EUA a la vista…<\/p>","protected":false},"author":21,"featured_media":24347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-24693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sin-categorizar"],"acf":[],"yoast_head":"\n
Visi\u00f3 de mercat desembre 2022 - GINVEST<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ginvest.es\/eus\/visio-de-mercat-desembre-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visi\u00f3 de mercat desembre 2022 - GINVEST\" \/>\n<meta property=\"og:description\" content=\"Novembre ha estat un mes molt marcat per: - La possible millora de la inflaci\u00f3 als EUA a la vista...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ginvest.es\/eus\/visio-de-mercat-desembre-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"GINVEST\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-09T17:43:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-23T09:44:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ginvest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ginvestam\" \/>\n<meta name=\"twitter:site\" content=\"@ginvestam\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ginvest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutua\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/\"},\"author\":{\"name\":\"Ginvest\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d\"},\"headline\":\"Visi\u00f3 de mercat desembre 2022\",\"datePublished\":\"2022-12-09T17:43:01+00:00\",\"dateModified\":\"2023-06-23T09:44:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/\"},\"wordCount\":530,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ginvest.es\/#organization\"},\"image\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg\",\"articleSection\":[\"Sin categorizar\"],\"inLanguage\":\"eu\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/\",\"url\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/\",\"name\":\"Visi\u00f3 de mercat desembre 2022 - GINVEST\",\"isPartOf\":{\"@id\":\"https:\/\/ginvest.es\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg\",\"datePublished\":\"2022-12-09T17:43:01+00:00\",\"dateModified\":\"2023-06-23T09:44:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#breadcrumb\"},\"inLanguage\":\"eu\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"eu\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage\",\"url\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg\",\"contentUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg\",\"width\":600,\"height\":450},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/ginvest.es\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Visi\u00f3 de mercat desembre 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ginvest.es\/#website\",\"url\":\"https:\/\/ginvest.es\/\",\"name\":\"GINVEST\",\"description\":\"Gestora de fondos de inversi\u00f3n\",\"publisher\":{\"@id\":\"https:\/\/ginvest.es\/#organization\"},\"alternateName\":\"GINVEST\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ginvest.es\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"eu\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ginvest.es\/#organization\",\"name\":\"Ginvest Asset Management SGIIC, SA\",\"alternateName\":\"GINVEST\",\"url\":\"https:\/\/ginvest.es\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"eu\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png\",\"contentUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png\",\"width\":700,\"height\":700,\"caption\":\"Ginvest Asset Management SGIIC, SA\"},\"image\":{\"@id\":\"https:\/\/ginvest.es\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/ginvestam\",\"https:\/\/es.linkedin.com\/company\/ginvestam\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d\",\"name\":\"Ginvest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"eu\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g\",\"caption\":\"Ginvest\"},\"description\":\"Expertos en gesti\u00f3n patrimonial\",\"url\":\"https:\/\/ginvest.es\/eus\/author\/ginvest\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Visi\u00f3 de mercat desembre 2022 - GINVEST","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ginvest.es\/eus\/visio-de-mercat-desembre-2022\/","og_locale":"en_US","og_type":"article","og_title":"Visi\u00f3 de mercat desembre 2022 - GINVEST","og_description":"Novembre ha estat un mes molt marcat per: - La possible millora de la inflaci\u00f3 als EUA a la vista...","og_url":"https:\/\/ginvest.es\/eus\/visio-de-mercat-desembre-2022\/","og_site_name":"GINVEST","article_published_time":"2022-12-09T17:43:01+00:00","article_modified_time":"2023-06-23T09:44:18+00:00","og_image":[{"width":600,"height":450,"url":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg","type":"image\/jpeg"}],"author":"Ginvest","twitter_card":"summary_large_image","twitter_creator":"@ginvestam","twitter_site":"@ginvestam","twitter_misc":{"Written by":"Ginvest","Est. reading time":"3 minutua"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#article","isPartOf":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/"},"author":{"name":"Ginvest","@id":"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d"},"headline":"Visi\u00f3 de mercat desembre 2022","datePublished":"2022-12-09T17:43:01+00:00","dateModified":"2023-06-23T09:44:18+00:00","mainEntityOfPage":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/"},"wordCount":530,"commentCount":0,"publisher":{"@id":"https:\/\/ginvest.es\/#organization"},"image":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg","articleSection":["Sin categorizar"],"inLanguage":"eu","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/","url":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/","name":"Visi\u00f3 de mercat desembre 2022 - GINVEST","isPartOf":{"@id":"https:\/\/ginvest.es\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage"},"image":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg","datePublished":"2022-12-09T17:43:01+00:00","dateModified":"2023-06-23T09:44:18+00:00","breadcrumb":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#breadcrumb"},"inLanguage":"eu","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/"]}]},{"@type":"ImageObject","inLanguage":"eu","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#primaryimage","url":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg","contentUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/12\/desembre.jpg","width":600,"height":450},{"@type":"BreadcrumbList","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-desembre-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/ginvest.es\/"},{"@type":"ListItem","position":2,"name":"Visi\u00f3 de mercat desembre 2022"}]},{"@type":"WebSite","@id":"https:\/\/ginvest.es\/#website","url":"https:\/\/ginvest.es\/","name":"GINVEST","description":"Gestora de fondos de inversi\u00f3n","publisher":{"@id":"https:\/\/ginvest.es\/#organization"},"alternateName":"GINVEST","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ginvest.es\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"eu"},{"@type":"Organization","@id":"https:\/\/ginvest.es\/#organization","name":"Ginvest Asset Management SGIIC, SA","alternateName":"GINVEST","url":"https:\/\/ginvest.es\/","logo":{"@type":"ImageObject","inLanguage":"eu","@id":"https:\/\/ginvest.es\/#\/schema\/logo\/image\/","url":"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png","contentUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png","width":700,"height":700,"caption":"Ginvest Asset Management SGIIC, SA"},"image":{"@id":"https:\/\/ginvest.es\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/ginvestam","https:\/\/es.linkedin.com\/company\/ginvestam"]},{"@type":"Person","@id":"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d","name":"Ginvest","image":{"@type":"ImageObject","inLanguage":"eu","@id":"https:\/\/ginvest.es\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g","caption":"Ginvest"},"description":"Expertos en gesti\u00f3n patrimonial","url":"https:\/\/ginvest.es\/eus\/author\/ginvest\/"}]}},"_links":{"self":[{"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/posts\/24693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/comments?post=24693"}],"version-history":[{"count":1,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/posts\/24693\/revisions"}],"predecessor-version":[{"id":24703,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/posts\/24693\/revisions\/24703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/media\/24347"}],"wp:attachment":[{"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/media?parent=24693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/categories?post=24693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ginvest.es\/eus\/wp-json\/wp\/v2\/tags?post=24693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}