{"id":3464,"date":"2026-01-16T09:03:16","date_gmt":"2026-01-16T08:03:16","guid":{"rendered":"https:\/\/talentagestion.es\/informe-mensual-de-mercados-diciembre-2025\/"},"modified":"2026-01-16T09:12:11","modified_gmt":"2026-01-16T08:12:11","slug":"informe-mensual-de-mercados-diciembre-2025","status":"publish","type":"post","link":"https:\/\/talentagestion.es\/en\/informe-mensual-de-mercados-diciembre-2025\/","title":{"rendered":"Monthly Market Report \u2013 December 2025"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The <strong>Federal Reserve\u2019s interest rate cut decision<\/strong>, the <strong>potential replacement of Powell<\/strong>, and the <strong>performance of U.S. technology stocks<\/strong> once again became the main focus of markets in December. Equity markets showed a <strong>mixed performance<\/strong>, with the U.S. closing almost flat, while <strong>Europe posted significant gains<\/strong>. Meanwhile, <strong>bond markets<\/strong> behaved similarly across regions, with <strong>yields rising along most of the curve<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Federal Reserve cut interest rates by 25 basis points for the third time in 2025<\/strong>, bringing the benchmark rate to <strong>3.75%<\/strong>. The decision was approved by a <strong>large majority<\/strong>, which was positively received by the market. In his subsequent press conference, <strong>Powell<\/strong> once again highlighted the <strong>wide range of views<\/strong> regarding future policy moves in 2026. While some members anticipate <strong>rate hikes<\/strong>, others support <strong>two additional rate cuts<\/strong>. If current voting positions are maintained, the Fed would <strong>cut rates once next year<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, the U.S. central bank announced a <strong>short-term bond purchase program<\/strong>, amounting to <strong>USD 40 billion per month<\/strong>, aimed at <strong>easing liquidity tensions<\/strong> observed in money markets in recent months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regarding the Fed, the name most frequently mentioned in December as a potential <strong>replacement for Powell<\/strong> was <strong>Kevin Hassett<\/strong>. Strongly aligned with <strong>Trump<\/strong> and supportive of <strong>more aggressive rate cuts<\/strong>, he is not a market-friendly candidate and has been one of the factors <strong>pushing U.S. bond yields higher<\/strong> during the month. Investors fear a <strong>loss of independence at the Fed<\/strong>, which could lead to challenges in <strong>controlling inflation and the broader economy<\/strong>. The second candidate is <strong>Kevin Warsh<\/strong>, who, despite his alignment with the Republican Party, has <strong>extensive experience in financial markets and at the Fed itself<\/strong>, making him more acceptable to investors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>U.S. bonds<\/strong> were negatively impacted by these developments. Only the <strong>favorable U.S. inflation data<\/strong> temporarily slowed the rise in yields. Headline <strong>U.S. CPI<\/strong> came in well below expectations at <strong>+2.7%<\/strong>, down from <strong>+3.0%<\/strong>, while <strong>core inflation<\/strong> followed the same trend, declining to <strong>+2.6%<\/strong>, its <strong>lowest level since March 2021<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Global fixed income markets<\/strong> were also pressured by the <strong>interest rate hike in Japan<\/strong> and by <strong>comments from ECB members<\/strong>, which made clear that the European institution has <strong>fully ended its rate-cutting cycle<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Japan<\/strong> raised its policy rate by <strong>25 basis points to 0.75%<\/strong>, the <strong>highest level in 30 years<\/strong>. Subsequent comments suggested that <strong>further rate hikes remain possible<\/strong>, generating additional pressure on the Japanese yield curve.<\/li>\n\n\n\n<li>The <strong>ECB<\/strong> kept rates unchanged at <strong>2.0%<\/strong>, but remarks from several members were poorly received by the market. <strong>Schnabel<\/strong>, among others, stated that the <strong>next move could be a rate hike<\/strong>, leading to <strong>higher yields across the euro curve<\/strong>, particularly at the long end. <strong>Long-term French yields<\/strong> reached their <strong>highest levels since 2009<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In <strong>equity markets<\/strong>, U.S. indices were weighed down by <strong>ongoing uncertainty surrounding artificial intelligence<\/strong>. <strong>Broadcom and Oracle<\/strong> reported earnings that fell short of expectations, triggering <strong>double-digit declines<\/strong> and spillover effects across the sector. Oracle was further impacted by news that <strong>one of its key financiers will not participate in its upcoming project<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, the <strong>S&amp;P 500<\/strong> ended the month virtually flat, down <strong>-0.05%<\/strong>. Despite the weak performance of technology stocks, there was a <strong>rotation toward more cyclical sectors<\/strong>, particularly financials, allowing the <strong>Dow Jones<\/strong> to post a <strong>+0.73% monthly gain<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>European equity indices<\/strong> continued their upward trend from recent months and <strong>outperformed their U.S. counterparts<\/strong>. The <strong>Euro Stoxx 50<\/strong> rose <strong>+2.17% in December<\/strong>, driven mainly by the <strong>banking sector<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, in the <strong>foreign exchange market<\/strong>, the <strong>U.S. dollar weakened against the euro<\/strong> following confirmation of the Fed\u2019s rate cut. The <strong>EUR\/USD<\/strong> pair rose <strong>+1.28% during the month<\/strong>, closing the year at <strong>1.1746<\/strong>. Overall, the dollar ended <strong>2025 down -11.85% versus the euro<\/strong>, although it remains within the <strong>sideways trading range<\/strong> established throughout the second half of the year., aunque se mantiene dentro del <strong>canal lateral<\/strong> formado durante todo el segundo semestre.<\/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\/2026\/01\/Informe-Mensual-de-Mercados-Diciembre-2025.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of Informe Mensual de Mercados - Diciembre 2025.\"><\/object><a id=\"wp-block-file--media-bf7fc94a-0f20-493b-a40f-c63f8375183d\" href=\"https:\/\/talentagestion.es\/wp-content\/uploads\/2026\/01\/Informe-Mensual-de-Mercados-Diciembre-2025.pdf\">Informe Mensual de Mercados &#8211; Diciembre 2025<\/a><a href=\"https:\/\/talentagestion.es\/wp-content\/uploads\/2026\/01\/Informe-Mensual-de-Mercados-Diciembre-2025.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-bf7fc94a-0f20-493b-a40f-c63f8375183d\">Descarga<\/a><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Did you find this\u00a0<strong>Monthly Market Report \u2013 December 2025<\/strong>\u00a0useful? If you\u2019re interested in staying up to date with economic analysis and market trends, we invite you to explore other recent reports on our blog:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Monthly Market Report \u2013 December 2025<\/strong>:\u00a0<a href=\"https:\/\/talentagestion.es\/en\/informe-mensual-de-mercados-octubre-2025\/\">Lee m\u00e1s aqu\u00ed<\/a><\/li>\n\n\n\n<li><strong>Monthly Market Report \u2013 October 2025<\/strong>:\u00a0<a href=\"https:\/\/talentagestion.es\/en\/informe-mensual-de-mercados-octubre-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>La Fed baja tipos por tercera vez mientras que Wall Street se mantiene plano durante el mes al persistir las dudas sobre la Inteligencia Artificial<\/p>\n","protected":false},"author":2,"featured_media":1267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37],"tags":[74,70],"class_list":["post-3464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reports","tag-nota-de-mercados-en","tag-talenta-gestion-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/posts\/3464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/comments?post=3464"}],"version-history":[{"count":1,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/posts\/3464\/revisions"}],"predecessor-version":[{"id":3469,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/posts\/3464\/revisions\/3469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/media\/1267"}],"wp:attachment":[{"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/media?parent=3464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/categories?post=3464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/talentagestion.es\/en\/wp-json\/wp\/v2\/tags?post=3464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}