Antonio Castelo, an analyst at Ibroker points out that, before the panic moment that investors live, and above all, as long as we do not have more visibility than what is happening with the issue of tariff days.
Of course, he emphasizes that There is almost no comparable to what is happening in financial marketsjust see how the time of the COVID, especially because of the uncertainty it presents, because the panorama is still very open, waiting to know what the situation will be like with a potential negotiation of the tariffs and a descale.
The other face of the currency is a major hardening of the panorama with reprisals from the rest of the countrieswith more commercial and geopolitical restrictions. It is difficult to know what will happen, and we could be facing a long period of uncertainty and recomposition of the world order.
Thereforeportfolio coverage, even through various instruments, also with derivatives It seems fundamental, recomposing positions.
Regarding assetsdebt and Gold, he opts for them, until now because the profitability of the American bonus has fallen very determined, but highlights that the perspectives of interest rates in the US seems to decide a little more to lower the types, with doubts on the table.
And all this despite the difficult balance that occurs, and if performed, the bonds would change bias. But the truth is that inflation is what can be triggered the most, and as the president of the Fed, Jerome Powell, said the situation of tariffs can lead to higher prices, and therefore, and therefore, Do not lower interest rates.
In the case of gold, active refuge par excellence that last week marked new maximums, given the complex and opposite situation of recession and inflation. The asset came to touch the $ 3,200 per ounce.