Key aspects
Positive month for most stock exchanges globally, although the rise experienced continues to stand out by the North American indices catapulted by a very small number of values. The bags
Europeans are still immersed in the lateral range started at the beginning of June while the Ibex-35 remained
lagged once again due to the heavy weight of the financial sector. Wall Street indices have hit new all-time highs driven almost exclusively by the values of the technology sector that have a high weight within the selective ones. The S&P 500
managed to overcome the 3,500 point barrier for the first time, while the Nasdaq 100 did the same above 12,000 points. The breadth of the market seen in this last index stands out,
Bullish sessions with more than half of the values closing negative. The markets continue to ignore possible sources of volatility that may occur in the short term.
The fact that COVID-19 remains unchecked in the US has not stopped Wall Street from marking new maximums. Neither is the imminent uncertainty of the North American elections being quoted in
those that Joe Biden is still ahead of Donald Trump in the polls. The yield of the 10-year bond in the USA reached its historical low at the beginning of the month, marking a
0.507% level. However, during the rest of August the price of the North American debt it underwent continuous corrections, bringing the IRR of the 10-year bond to 0.70%.
The message from the North American Federal Reserve (Fed) continued to suggest a monetary policy very lax for the medium term. The institution chaired by Powell announced that it would focus on its
economic growth objective, leaving inflation control in the background. This will mean that possible rises in the price level above the target level will not be controlled
through rate hikes with the same intensity that has been carried out until now. Gold was once again one of the prominent protagonists after registering a new all-time high above
above the $ 2,000 per ounce level.
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