{"id":29312,"date":"2024-05-09T12:27:36","date_gmt":"2024-05-09T10:27:36","guid":{"rendered":"https:\/\/ginvest.es\/visio-de-mercats-maig-2024\/"},"modified":"2024-05-09T12:35:00","modified_gmt":"2024-05-09T10:35:00","slug":"visio-de-mercats-maig-2024","status":"publish","type":"post","link":"https:\/\/ginvest.es\/eus\/visio-de-mercats-maig-2024\/","title":{"rendered":"Visi\u00f3 de mercats maig 2024"},"content":{"rendered":"

[et_pb_section fb_built=\u00bb1″ admin_label=\u00bbsection\u00bb _builder_version=\u00bb4.16″ global_colors_info=\u00bb{}\u00bb][et_pb_row admin_label=\u00bbrow\u00bb _builder_version=\u00bb4.16″ background_size=\u00bbinitial\u00bb background_position=\u00bbtop_left\u00bb background_repeat=\u00bbrepeat\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_column type=\u00bb4_4″ _builder_version=\u00bb4.16″ custom_padding=\u00bb|||\u00bb global_colors_info=\u00bb{}\u00bb custom_padding__hover=\u00bb|||\u00bb][et_pb_text _builder_version=\u00bb4.20.4″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb]Qu\u00e8 ha passat aquest mes?<\/b><\/span><\/p>\n

Durant el mes d’Abril, les dades macroecon\u00f2miques publicades als EUA van mostrar un repunt en la inflaci\u00f3 i una demanda privada resilient que van intensificar que la Reserva Federal inici\u00ef m\u00e9s tard de l’esperat la baixada de tipus d’inter\u00e8s descomptada pel mercat. <\/span><\/p>\n

En contrast, a Europa, el Banc Central va mantenir l’inici de la baixada de tipus d’inter\u00e8s al juny. <\/span><\/p>\n

Per contra, l’IPC japon\u00e8s va pujar un 2,7% interanual, una bona not\u00edcia per a un pa\u00eds que surt d’una deflaci\u00f3 que ha durat d\u00e8cades.<\/span><\/p>\n

Quant als Mercats Emergents, la Xina va destacar amb un creixement del PIB del 5.3% interanual en el primer trimestre de 2024, superant les expectatives.<\/span><\/p>\n

A nivell microecon\u00f2mic, les empreses van publicar els resultats del primer trimestre de 2024: <\/span><\/p>\n

Als Estats Units, el 72% de les empreses del S&P 500 van publicar resultats i un 78% van superar les estimacions. <\/span><\/p>\n

A Europa, del 60% de les empreses del Stoxx600 que van publicar nom\u00e9s un 56% van superar estimacions.<\/span><\/p>\n

Durant el mes d’abril es van incrementar les tensions geopol\u00edtiques:<\/span><\/p>\n

– El conflicte a Orient Mitj\u00e0 escala amb l’atac de l’Iran a Israel com a repres\u00e0lia al recent atac contra un consolat irani\u00e0 a Damasc.<\/span><\/p>\n

– Augmenta la tensi\u00f3 entre els Estats Units\/ Europa amb la Xina a causa de les noves sancions imposades per totes dues parts.<\/span><\/p>\n

Com han reaccionat els mercats?<\/b><\/span><\/p>\n

Aquest context no va afavorir als mercats financers que, generalment, van tenir rendibilitats negatives aquest mes.<\/span><\/p>\n

L’excepci\u00f3 va ser la Renda Variable Emergent, que va tancar en positiu amb un increment del 1,31% en l’\u00edndex MSCI Emerging Markets Eur Hedged, gr\u00e0cies, principalment, per les dades econ\u00f2miques favorables de la Xina.<\/span><\/p>\n

La resta de mercats van acabar en negatiu. El mercat l’americ\u00e0 va ser el mes afectat amb una caiguda del -4,31% aquest mes a causa de l’agreujament de les tensions geopol\u00edtiques.<\/span><\/p>\n

La Renda Fixa tamb\u00e9 va experimentar un mal comportament, sobretot els trams m\u00e9s llargs, a causa de la perspectiva d’un retard en les baixades de tipus d’inter\u00e8s als Estats Units.<\/span><\/p>\n

L’\u00edndex de Renda Fixa Governs va caure un -1,46% (Bloomberg Barclays Global Government Bond Eur hedged).<\/span><\/p>\n

L’\u00edndex de Renda Fixa Corporativa (Bloomberg Barclays Global Corporate Bond Eur hedged) va caure un -2,03%.<\/span><\/p>\n

Davant aquest escenari el d\u00f2lar es va apreciar en el mes.<\/span><\/p>\n

Com ens posicionem?<\/b><\/span><\/p>\n

Mantenim la neutralitat en l’assignaci\u00f3 d’actius davant un context favorable al risc degut a un creixement millor de l’esperat i a una desacceleraci\u00f3 de la inflaci\u00f3 encara que a un ritme m\u00e9s lent.<\/span>
\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>","protected":false},"excerpt":{"rendered":"

Qu\u00e8 ha passat aquest mes? Durant el mes d’Abril, les dades macroecon\u00f2miques publicades als EUA van mostrar un repunt en la inflaci\u00f3 i una demanda privada resilient que van intensificar que la Reserva Federal inici\u00ef m\u00e9s tard de l’esperat la baixada de tipus d’inter\u00e8s descomptada pel mercat. En contrast, a Europa, el Banc Central va […]<\/p>","protected":false},"author":21,"featured_media":29925,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,33],"tags":[],"class_list":["post-29312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-educacio-financera"],"acf":[],"yoast_head":"\nVisi\u00f3 de mercats maig 2024 - 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-mercats-maig-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visi\u00f3 de mercats maig 2024 - GINVEST\" \/>\n<meta property=\"og:description\" content=\"Qu\u00e8 ha passat aquest mes? Durant el mes d'Abril, les dades macroecon\u00f2miques publicades als EUA van mostrar un repunt en la inflaci\u00f3 i una demanda privada resilient que van intensificar que la Reserva Federal inici\u00ef m\u00e9s tard de l'esperat la baixada de tipus d'inter\u00e8s descomptada pel mercat. 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