Dear client,
We hope you all feel well.
A week that began with strong drops in the bags to end up recovering what was lost. We are seeing increased volatility and an adjustment in the share price of large technology companies, which had led the increases this summer. Meanwhile, economic data is showing a certain halt after the improvement experienced at the end of the lockouts. With the arrival of autumn and uncertainty about the evolution of the pandemic and the economy, it is necessary to remain prudent. The incipient stock market correction could be more profound if the data does not improve.
Our portfolios are down this week, although increased volatility is helping us to continue closing positions at a profit. The US dollar has fallen slightly again and the most notable development is the fall of the pound sterling due to the lack of agreement between the United Kingdom and the European Union on the Brexit. The most logical thing to do is to finally reach an agreement. We continue to take a defensive stance while waiting for a correction that could bring us a lot.
The environment remains favourable and we are still optimistic.
Best regards.
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