Charting New Waters - The First Waves of 2026
- Ballestas Group
- Jan 12
- 1 min read
The main political event of the week was the capture of Venezuelan President Nicolás Maduro by US military forces, following an operation carried out on January 3 on Venezuelan territory. The operation included armed actions in Caracas and resulted in Maduro being transferred to New York to face criminal charges. Following the event, the Supreme Court appointed Delcy Rodríguez as interim president, amid strong internal divisions, protests, and regional and international diplomatic tensions.
On the economic front, the week's data reflect a mixed slowdown in activity, with mixed signals across sectors. The real estate market showed a significant deterioration: housing starts fell 4.6% month-on-month to their lowest level since 2020, while building permits declined slightly, suggesting caution in residential investment.
In the labor market, job creation was below expectations, with 50,000 new jobs in December, although the unemployment rate fell marginally to 4.4%. Wages continued to grow moderately and in line with forecasts. At the same time, the ADP report confirmed modest growth in private employment.

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