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New Bearings Headed into 2026 - Consumption Strong, Rates Ready to Pivot
The week in the United States brought a slew of economic data confirming moderate expansion. The ISM manufacturing PMI fell to 48.2, deepening its contraction due to weakness in new orders and employment, while the ISM services index rose to 52.6, showing that tertiary activity continues to be the main driver of growth. The labor market once again showed a mixed picture: the ADP report recorded a reduction of 32,000 private jobs in November, driven by a drop of 120,000 jobs i
Ballestas Group
1 day ago1 min read
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Anchored but Agile - Markets Adapt as Rate Expectations Shift
This was a short week in the United States due to the Thanksgiving holiday, but it still left several relevant signals in economic, market, and political matters. Macro data continued to show moderate activity and slowing inflation. Retail sales rose only 0.2% in September, while pending home sales fell 0.4% year-on-year in October, reflecting consumers and the real estate market still under pressure from high interest rates. In industry, orders for durable goods rose 0.5% an
Ballestas Group
Dec 11 min read
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Drifting Less, Steering More - November’s Data Finds Direction
The week brought economic, market, and political developments that point to moderate growth and greater uncertainty. On the economic front, the FOMC minutes revealed a divided committee: although most members see room for future rate cuts, several are hesitant about cutting in December due to persistent inflation. This caution is compounded by signs of a cooling labor market: in September, 119,000 jobs were created, more than double the expected number, but unemployment rose
Ballestas Group
Nov 241 min read
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Sailing Ahead - Growth Outlook Brightens Post-Shutdown
The United States experienced a week marked by a combination of economic, market, and political events, presenting a complex landscape for investors. On the economic front, the end of the historic 43-day government shutdown brought relief, but also highlighted the impact on official statistics: although October's non-farm payrolls will be released next week, authorities have warned that it will not be possible to calculate the unemployment rate due to the lack of data collect
Ballestas Group
Nov 172 min read
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