{"id":2690,"date":"2025-05-08T10:55:18","date_gmt":"2025-05-08T08:55:18","guid":{"rendered":"https:\/\/talentagestion.es\/informe-mensual-de-mercados-abril-2025\/"},"modified":"2025-05-08T11:02:08","modified_gmt":"2025-05-08T09:02:08","slug":"informe-mensual-de-mercados-abril-2025","status":"publish","type":"post","link":"https:\/\/talentagestion.es\/ca\/informe-mensual-de-mercados-abril-2025\/","title":{"rendered":"Informe Mensual de Mercats \u2013 Abril 2025"},"content":{"rendered":"\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">El \u2018Liberation Day\u2019 de Trump desferma la volatilitat a les borses a l\u2019abril amb una recuperaci\u00f3 total a la segona quinzena<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Durant les primeres sessions d&#8217;abril<\/strong>, <strong>les borses van experimentar un fort augment de la volatilitat<\/strong>, arribant a patir caigudes molt marcades. <strong>Els indicadors de volatilitat van assolir nivells no vistos des del mar\u00e7 de 2020.<\/strong> El <strong>2 d\u2019abril<\/strong>, batejat per Trump com el \u201cDia de l\u2019Alliberament\u201d, es van anunciar <strong>nous aranzels rec\u00edprocs<\/strong> dels EUA. Trump va anunciar <strong>aranzels molt elevats<\/strong> per compensar el <strong>d\u00e8ficit comercial americ\u00e0<\/strong> per regions. <strong>Alguns pa\u00efsos asi\u00e0tics van rebre aranzels propers al 50%.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>El mercat va reaccionar negativament<\/strong>. L\u2019<strong>S&amp;P-500 va caure un -10,53%<\/strong> en dues sessions, arribant a un <strong>m\u00ednim de 4.835 punts<\/strong>. Des dels m\u00e0xims de febrer de 2025, la <strong>caiguda total va ser del -18,90%<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>La renda fixa USA va actuar com a refugi<\/strong>, amb la refer\u00e8ncia a 10 anys arribant al <strong>3,88%<\/strong>. Per\u00f2 despr\u00e9s <strong>va pujar al 4,45%<\/strong> per la <strong>pressi\u00f3 venedora<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Les caigudes bors\u00e0ries i les <strong>altes rendibilitats de la renda fixa USA<\/strong> van portar a Trump a <strong>modificar la seva pol\u00edtica aranzel\u00e0ria<\/strong>. El <strong>9 d\u2019abril<\/strong> es va anunciar una <strong>pr\u00f2rroga de 90 dies<\/strong>, i l\u2019<strong>S&amp;P-500 va rebotar un +9,52%<\/strong>, tercera millor sessi\u00f3 de la seva hist\u00f2ria.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">La resta del mes es va caracteritzar per <strong>un canvi en el discurs de Trump<\/strong>, amb <strong>acostaments a la Xina<\/strong>, i <strong>m\u00e9s estabilitat en la renda fixa<\/strong>, cosa que va permetre <strong>recuperar les caigudes<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>El BCE va reduir els tipus per tercera vegada en 2025<\/strong>, en <strong>25 punts b\u00e0sics fins al 2,25%<\/strong>. El mercat <strong>espera dues baixades m\u00e9s<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>La renda fixa europea va tenir un bon comportament<\/strong>, amb <strong>pujades en tota la corba<\/strong>. La <strong>refer\u00e8ncia alemanya a 10 anys va acabar en 2,44%<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">L\u2019<strong>USD va seguir debilitant-se<\/strong>, amb una relaci\u00f3 <strong>EUR\/USD d\u20191,157<\/strong>, una <strong>caiguda del -11,77%<\/strong> el 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>El petroli WTI va caure un -18,56%<\/strong> per <strong>m\u00e9s producci\u00f3 de l\u2019OPEP i menor creixement mundial<\/strong>. <strong>L\u2019or va pujar un +5,29%<\/strong>, assolint <strong>m\u00e0xims hist\u00f2rics de 3500 $\/un\u00e7a<\/strong> per <strong>la feblesa del d\u00f2lar, la demanda xinesa i la volatilitat.<\/strong><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/talentagestion.es\/wp-content\/uploads\/2025\/05\/Informe-Mensual-de-Mercados-Abril-2025.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Incrustaci\u00f3 del fitxer Informe Mensual de Mercados - Abril 2025.\"><\/object><a id=\"wp-block-file--media-a9ef722a-de6d-45e3-ab58-a950c7987abe\" href=\"https:\/\/talentagestion.es\/wp-content\/uploads\/2025\/05\/Informe-Mensual-de-Mercados-Abril-2025.pdf\">Informe Mensual de Mercados &#8211; Abril 2025<\/a><a href=\"https:\/\/talentagestion.es\/wp-content\/uploads\/2025\/05\/Informe-Mensual-de-Mercados-Abril-2025.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-a9ef722a-de6d-45e3-ab58-a950c7987abe\">Descarga<\/a><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>T\u2019ha resultat \u00fatil aquest Informe Mensual de Mercats \u2013 Abril 2025?\u00a0<\/strong>Si t\u2019interessa estar al dia amb l\u2019an\u00e0lisi econ\u00f2mica i les tend\u00e8ncies de mercat, et convidem a descobrir altres informes recents al nostre blog:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Informe Mensual de Mercats \u2013 Mar\u00e7 2025:<\/strong>&nbsp;<a href=\"https:\/\/talentagestion.es\/ca\/informe-mensual-de-mercats-gener-2025\/\"><\/a><a href=\"https:\/\/talentagestion.es\/ca\/informe-mensual-de-mercados-febrero-2025\/\"><\/a><a href=\"https:\/\/talentagestion.es\/ca\/informe-mensual-de-mercados-marzo-2025\/\" data-type=\"link\" data-id=\"https:\/\/talentagestion.es\/informe-mensual-de-mercados-marzo-2025\/\">Lee m\u00e1s aqu\u00ed<\/a><\/li>\n\n\n\n<li><strong>Informe Mensual de Mercats \u2013 Febrer 2025:<\/strong>&nbsp;<a href=\"https:\/\/talentagestion.es\/ca\/informe-mensual-de-mercats-gener-2025\/\"><\/a><a href=\"https:\/\/talentagestion.es\/ca\/informe-mensual-de-mercados-febrero-2025\/\">Lee m\u00e1s aqu\u00ed<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El \u2018Liberation Day\u2019 de Trump desferma la volatilitat a les borses a l\u2019abril amb una recuperaci\u00f3 total a la segona quinzena<\/p>\n","protected":false},"author":2,"featured_media":1266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[114,123,71,73],"class_list":["post-2690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-informes-ca","tag-aranceles-trump-ca","tag-liberation-day-ca","tag-nota-de-mercados-ca","tag-trump-ca"],"acf":[],"_links":{"self":[{"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/posts\/2690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/comments?post=2690"}],"version-history":[{"count":2,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/posts\/2690\/revisions"}],"predecessor-version":[{"id":2696,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/posts\/2690\/revisions\/2696"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/media\/1266"}],"wp:attachment":[{"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/media?parent=2690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/categories?post=2690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/talentagestion.es\/ca\/wp-json\/wp\/v2\/tags?post=2690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}