{"id":4557,"date":"2023-05-09T12:53:15","date_gmt":"2023-05-09T12:53:15","guid":{"rendered":"https:\/\/52.148.200.181\/portal-interno\/?p=4557"},"modified":"2023-05-29T08:52:07","modified_gmt":"2023-05-29T08:52:07","slug":"analisis-de-mercado-y-recomendaciones-mayor-2023","status":"publish","type":"post","link":"https:\/\/www.atlcapital.es\/portal-interno\/analisis-de-mercado-y-recomendaciones-mayor-2023\/","title":{"rendered":"An\u00e1lisis de mercado y recomendaciones para mayo 2023"},"content":{"rendered":"<p>El resumen del mes de abril podemos calificarlo de positivo tanto para los<strong> mercados de renta variable<\/strong> como de renta fija. En el primer caso destac\u00f3 el comportamiento de Europa frente a Estados Unidos y la excepci\u00f3n la marcaron los <strong>mercados emergentes<\/strong> que registraron depreciaciones, en\u00a0 general. En <strong>renta fija<\/strong>, las subidas fueron generalizadas en todos los bonos y hay que destacar la positiva evoluci\u00f3n, un mes m\u00e1s, de los bonos gobierno.<\/p>\n<p>Hay motivos para que los <strong>mercados<\/strong> mantengan el tono positivos. Los<strong> resultados empresariales<\/strong> se mantienen al alza y tras las \u00faltimas alzas de tipos realizadas por la<strong> FED y el BCE<\/strong> parece que el fin de las subidas por parte de los<strong> bancos centrales<\/strong> est\u00e1 m\u00e1s cerca. La ReservaFederal subi\u00f3 una vez m\u00e1s los tipos de inter\u00e9s 25 puntos b\u00e1sicos, situ\u00e1ndolos en el rango de 5% al 5,25 %. Los tipos podr\u00edan haber tocado techo despu\u00e9s de esta subida, aunque Jerome Powell matiz\u00f3 que esa decisi\u00f3n todav\u00eda no se ha tomado. A esto se une, la publicaci\u00f3n de otros indicadores, como el del empleo americano que se mantiene un comportamiento s\u00f3lido y la <strong>inflaci\u00f3n,<\/strong> que da muestras de moderaci\u00f3n, aunque se resiste a bajar. Su evoluci\u00f3n seguir\u00e1 siendo la pauta que marque la actuaci\u00f3n de los bancos centrales para frenarla.<\/p>\n<p>Con este contexto, el <strong>Comit\u00e9 de Inversiones de atl Capita<\/strong>l ha decidido no realizar ning\u00fan movimiento en la <strong>distribuci\u00f3n de activos<\/strong> de las carteras para este mes de mayo.\u00a0 La recomendaci\u00f3n es mantener una exposici\u00f3n neutral en<strong> bonos High Yields , Gobierno y emergentes en renta fija<\/strong> y tambi\u00e9n en el segmento de<strong> renta variable<\/strong> tanto en Europa, como Estados Unidos y mercados emergentes.<\/p>\n<p>&nbsp;<\/p>\n<table style=\"height: 56px;\" width=\"642\">\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.atlcapital.es\/portal-interno\/wp-content\/uploads\/2023\/05\/MAPA-RCI-atl-Capital-052023.pdf\"><strong>Leer informe completo<\/strong><\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-4558 aligncenter\" src=\"https:\/\/i0.wp.com\/www.atlcapital.es\/portal-interno\/wp-content\/uploads\/2023\/05\/Recomendaciones-mayo-atl-capital.png?resize=590%2C338&#038;ssl=1\" alt=\"\" width=\"590\" height=\"338\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El resumen del mes de abril podemos calificarlo de positivo tanto para los mercados de renta variable como de renta fija. En el primer caso destac\u00f3 el comportamiento de Europa frente a Estados Unidos y la excepci\u00f3n la marcaron los mercados emergentes que registraron depreciaciones, en\u00a0 general. En renta fija, las subidas fueron generalizadas en [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":3639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[112,47,48],"tags":[97,102,98,99,61,100,96,77,103,101],"class_list":["post-4557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analisis-mercado","category-articulos-de-interes","category-destacado","tag-analisis-de-mercado","tag-bancos-centrales","tag-bce","tag-fed","tag-inflacion","tag-mapa-rci","tag-recomendaciones-de-inversion","tag-renta-fija","tag-renta-variable","tag-resultados-empresariales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>An\u00e1lisis de mercado y recomendaciones para mayo 2023 - atl Capital Portal Interno<\/title>\n<meta name=\"description\" content=\"Hay motivos para que los mercados mantengan el tono positivos. 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