In an environment where accurate and accessible information is key to decision-making, FlexFunds continues to strengthen its service offerings for asset managers through platforms recognized at the institutional level. Now, Morningstar joins a group of top-tier providers, further enhancing the visibility and reach of investment vehicles (ETPs) under FlexFunds’ securitization program, the firm announced in a statement.
Starting in March 2025, qualitative and quantitative data on ETPs will be available on Morningstar Direct, an essential tool for institutional investors, as well as on Morningstar’s public website. This integration increases the exposure of investment vehicles, strengthens transparency, and provides access to advanced analytics on one of the most trusted platforms in the industry.
The combination of pricing providers offered by the FlexFunds program, including Morningstar, Bloomberg, LSEG Refinitiv, and SIX Financial, provides a comprehensive market view and helps asset managers build a public track record, enabling informed and strategic decision-making.
DWS has expanded its Xtrackers product range, enabling investment in a broadly diversified selection of bonds with similar maturities, by adjusting the investment objectives and names of two existing fixed-income ETFs. The new Xtrackers II Rolling Target Maturity Sept 2027 EUR High Yield UCITS ETF invests for the first time in high-yield corporate bonds with a specific maturity.
According to the asset manager, since the bonds remain in the ETF portfolio until maturity, price fluctuations are reduced for investors who stay invested until September 2027. To achieve this, the ETF now tracks the iBoxx EUR Liquid High Yield 2027 3-Year Rolling Index. This index includes around 80 liquid high-yield corporate bonds denominated in euros, with credit ratings below Investment Grade, according to major rating agencies. As a result, investors bear a higher credit and default risk compared to investing in Investment Grade bonds. In return, according to the firm, “there is an opportunity to achieve a significantly higher aggregate yield at maturity, estimated at around 5.3% as of February 17, 2025, for the ETF’s portfolio.”
They also state that all bonds in the index have an initial maturity date between October 1, 2026, and September 30, 2027. Additionally, to provide greater flexibility, the ETF’s target maturity will be “extended” in the future. This means that the ETF will not be liquidated at the end of its term in September 2027, and the fund’s assets will be paid out to shareholders. Instead, the assets will be reinvested in bonds with a maturity of approximately three years.
“By expanding our current range of target maturity ETFs with an innovative product in the high-yield bond segment, we aim to offer investors the opportunity to generate attractive mid-term returns in the current environment of declining interest rates,” says Simon Klein, Global Head of Sales for Xtrackers at DWS.
The asset manager also highlights that they offer the Xtrackers II Target Maturity Sept 2029 Italy and Spain Government Bond UCITS ETF. In this case, the underlying index has also been modified for this ETF. “It now provides access to Italian and Spanish government bonds maturing between October 2028 and September 2029. Like all Xtrackers target maturity ETFs, these new products combine the advantages of fixed-income securities—predictable redemption at maturity—with the benefits of ETFs, such as broad diversification, liquidity, and ease of trading,” they state.
President Donald Trump signed an executive order this week declaring English as the official language of the United States. While English has always been the dominant language, the country had never had an official language at the federal level—until now. This decision, aimed at promoting national unity while saving federal funds, could have far-reaching effects, especially in Hispanic marketing, digital content production, and Spanish-language SEO.
With the potential reduction or elimination of Spanish-language content on government websites, businesses that serve Spanish-speaking consumers must prepare for a shift in the digital landscape.
The Hispanic marketing agency Hispanic Market Advisors analyzes the impact of this measure and the opportunities it creates for brands looking to connect with the Latino community.
Will the Government Remove Spanish-Language Content?
Currently, government agencies such as the Social Security Administration (SSA), the Internal Revenue Service (IRS), and U.S. Citizenship and Immigration Services (USCIS) provide resources in Spanish. However, with the officialization of English as the primary language, the government may stop translating and maintaining Spanish-language versions of its websites. This would make it harder for millions of Spanish speakers to access critical information about taxes, immigration, social benefits, and other essential services.
An Opportunity for Businesses
If Spanish-language government websites disappear from search results, businesses and nonprofit organizations have the opportunity to fill that gap. The absence of government pages in Spanish search engine results pages (SERPs) will allow businesses that invest in Spanish SEO and content marketing to gain greater visibility.
“Companies that offer legal, financial, and healthcare services can now position themselves as key sources of information in Spanish,” said Sebastian Aroca, MIB, president of Hispanic Market Advisors.
Key Strategies to Reach the Hispanic Audience
To attract and retain Spanish-speaking audiences in this new digital landscape, Hispanic Market Advisors recommends:
Investing in Spanish SEO – Businesses should optimize their content with relevant keywords such as immigration lawyer, health insurance for Hispanics, and how to file taxes in the U.S. to attract high-quality traffic.
Creating Spanish-language content – Publishing blogs, guides, and videos in Spanish will help brands establish themselves as industry leaders.
Having a bilingual website – Ensuring that a website is available in both English and Spanish enhances the user experience for Spanish speakers and increases customer conversions.
Leveraging Spanish-language social media – Platforms like Facebook, Instagram, and TikTok have a large Latino community. Companies can boost engagement with Spanish-language posts, ads, and videos.
Using paid advertising for Spanish speakers – With fewer free government resources in Spanish, Hispanic consumers will turn to commercial services. Businesses that invest in Google Ads and Facebook Ads in Spanish can effectively capture this audience.
A New Era for Hispanic Marketing
Trump’s executive order could present challenges for the Hispanic community, but it also opens new opportunities for businesses that know how to adapt.
Investment fund assets in Mexico started the year on the right foot, reaching a new historic figure along with double-digit annual growth.
According to data from the Mexican Association of Securities Intermediaries (AMIB), as of the end of January, the total net assets of investment funds in Mexico reached a value of 4.335 trillion pesos (210.372 billion dollars), based on an average exchange rate of 20.60 pesos per dollar. This represents a 1.87% increase compared to the end of December last year and an annual growth of 24.43%, meaning compared to January 2024.
The financial assets of investment funds now rank third among the largest in the Mexican financial system, equivalent to 12.62% of the country’s GDP. They are only behind the assets managed by Afores, which account for nearly 21%, and banks, whose total assets represent 48% of the country’s GDP.
Promotional efforts within Mexico’s investment fund industry by authorized asset managers, along with the strengthening of a retirement savings system, continue to yield results in the Mexican market and are a key factor explaining this market growth.
Exponential Increase in Clients
Perhaps the most striking result is the number of clients in the system, which has skyrocketed exponentially over the past year.
According to AMIB figures, by the end of January, a total of 12.13 million clients were reported, reflecting a monthly increase of 4.35% and an annual growth of 78.92%. Since recordkeeping began, there had never been such a significant increase in the number of clients within a 12-month period.
This exponential growth is also evident over the past decade, as demand for investment funds has surged. Comparing the number of clients registered at the end of 2019, there are now 4.81 times more than in that year. Some analysts consider the pandemic to be the turning point that sparked this exponential rise in clients in the Mexican funds market, reinforcing the idea that crises also create opportunities.
The Leadership of GBM and BBVA
Out of the total 12.13 million clients in Mexico’s investment fund market, GBM stands out as a key player, with 5.55 million clients. This means the firm accounts for 45.34% of all investment fund accounts in the country.
However, despite GBM‘s dominance in the number of clients investing in funds, the largest fund manager in terms of assets is not GBM, but rather the Mexican subsidiary of the Spanish bank BBVA.
According to official figures, BBVA México manages assets totaling 1.054 trillion pesos, equivalent to 51.165 billion dollars. These amounts, both in pesos and dollars, represent 24.32% of the total assets in the system—nearly a quarter of the market.
The Challenge of Diversification
Despite the rapid increase in demand, fund diversification remains a major challenge for financial intermediaries in the coming months and years. This is because Mexican funds remain highly concentrated in the debt segment.
AMIB figures show that of the 636 investment funds in Mexico, 255 (40%) are debt instrument funds. While they do not constitute the majority in terms of number, they hold a dominant 74.14% of the total net asset volume. The security of these investments—reflecting a highly conservative investor profile—is a key factor in the dominance of debt funds in the Mexican market.
The 21st century is nearing its first quarter, and Global X has already drawn key lessons from this period: the U.S. economy and markets tend to be resilient.
The firm highlights several examples—the dot-com bubble, the global financial crisis, and COVID-19—all of which occurred since the turn of the century, yet the S&P 500 has quadrupled in value. “We keep this lesson in mind as we enter 2025 with a mix of optimism and uncertainty,” says Global X, noting that investor confidence and consumer expectations are improving, even as questions persist about economic policy and GDP growth is expected to slow.
Just like last year, Global X believes economic growth may once again surprise to the upside, supporting further market gains. However, the key drivers of growth this time will likely be different. “Some market participants argue that broad equity valuations look stretched, but in our view, fund flows suggest that investors remain willing to embrace risk assets,” they state. They add that broader market participation, improving profit margins, and continued earnings growth “could further lift equity valuations.” Conversely, they see fixed income as potentially “stuck in limbo due to interest rate volatility, which may force investors to be more creative and seek differentiated strategies.”
The strength of the services sector and corporate investment from large tech firms helped drive stronger-than-expected economic growth in 2024. However, Global X warns that economic uncertainty is likely to remain high, given the trade-offs and net effects of lower taxes, higher tariffs, reduced immigration, increased stimulus, and lighter regulation. That said, a manufacturing sector recovery, combined with renewed investment in small and mid-cap companies, could extend the mid-cycle expansion, leading to broader market participation and higher valuation multiples.
As a result, Global X will focus in 2025 on growth themes tied to U.S. competitiveness that still appear reasonably priced.
Building Portfolio Resilience in 2025
Equities and risk assets may be poised for another strong year, according to Global X. However, “the unique set of economic and political circumstances will likely warrant a more targeted approach in 2025.” A portfolio strategy aligned with key themes related to U.S. competitiveness “can provide reasonable upside and a degree of insulation from potential volatility.” The firm’s top investment themes include:
1. Infrastructure Development
A core part of the U.S. competitiveness narrative is the ongoing infrastructure renaissance. Construction, equipment, and materials companies have benefited from infrastructure-related policies and are positioned to gain from approximately $700 billion in additional spending over the coming years. Despite strong performance in recent years, these companies still trade at valuation multiples below the S&P 500. Moreover, traditionally rigid industries are adopting new technologies and practices, which could help expand profit margins.
2. Defense and Global Security
A series of interconnected global conflicts is creating new challenges for the U.S. and its allies. These evolving threats are expected to be persistent and unconventional, driving demand for new tactics, techniques, and technologies. Global defense spending, which reached $2.24 trillion in 2022, is projected to grow 5% in 2025, while defense company revenues are expected to rise nearly 10%, with profit margins improving from 5.2% to 7.6%. Compared to traditional defense platforms—such as battleships and fighter jets—lower-cost solutions like AI-driven defense systems and drones are expected to boost profitability, alongside greater automation in production processes.
3. Energy Independence and Nuclear Power
Even before AI-driven growth, energy demand was expected to rise sharply—and those forecasts have only increased. Fossil fuels will remain an essential part of the energy mix, but cost-effective and environmentally friendly alternatives will be critical to meeting surging demand. The tech sector has turned its attention to nuclear power, with many major companies announcing plans to utilize existing facilities or build small modular reactors (SMRs). Beyond the U.S., Japan, Germany, and Australia are expected to expand nuclear capacity, driving strong demand for uranium.
Selective Income Strategies for 2025
Income-focused investors may need to adopt a more selective approach in 2025, according to Global X, “given political uncertainty and potential interest rate volatility.” Many fixed-income instruments may underperform in a volatile rate environment, particularly long-duration assets. To minimize interest rate risk, Global X suggests equity-based strategies that could provide income with less sensitivity to rate fluctuations:
1. Covered Options Strategies
Equity-based covered options strategies can generate stable income while limiting direct exposure to interest rate movements. While the underlying asset may still fluctuate with the overall market (and indirectly with rate volatility), these strategies are not directly impacted by interest rate risk like traditional fixed income. Additionally, when rate volatility increases equity market volatility, option premiums tend to rise, maximizing income potential.
2. Energy Infrastructure Investments
Master Limited Partnerships (MLPs)—which own energy infrastructure assets such as pipelines—can generate steady incomewithout direct exposure to interest rate movements. These assets typically pay consistent dividends and have long-term supply contracts that stabilize cash flows. While their values can fluctuate with oil prices, their correlation to commodities is generally modest, as they do not extract or own the raw materials—they simply transport them. Additionally, real assets like commodities and energy infrastructure are often viewed as inflation hedges.
3. Preferred Stocks
Preferred stocks sit above common equity but below fixed income in the capital structure. They trade at par value and pay fixed or floating dividends. While investors are not guaranteed payments, preferred shareholders receive dividends before common stockholders. Since they are issued at par with a predetermined payout structure, they can be sensitive to interest rates. However, because they carry more risk than bonds, they tend to offer higher yields.
Most preferred shares are issued by banks, which generate steady cash flows from net interest income. With potential financial sector deregulation and increased small-business lending, preferred stocks could become an attractive income option in 2025.
The latest report on the U.S. Consumer Price Index (CPI) showed that core inflation rose 0.4% month-over-month, surpassing consensus expectations. This pushed annual inflation to 3% in January 2025, up from 2.9% in December 2024. Additionally, the report detailed price spikes in categories that typically increase at the start of the year, including auto insurance, internet/TV subscriptions, and prescription drugs.
According to analysts at Banca March, the data presented a mixed picture: “The increase was mainly due to energy prices contributing to inflation (+0.06%) for the first time since last July, as well as a weaker downward drag from goods prices, which fell -0.13% year-over-year in January, marking their smallest decline since December 2023.”
They note that this shift in goods prices was driven largely by two components—used cars and prescription drugs—which together contributed +0.3% to January’s inflation, whereas in December, they had subtracted three-tenths from the CPI.
On a more positive note, service prices continued their gradual moderation trend, though not enough to prevent the inflation uptick. Service inflation rose at a 4.3% annual rate—one-tenth lower than in December—marking the slowest increase in service prices since January 2022. “Notably, the largest component, imputed rents, moderated to +4.4% year-over-year, down from +6% a year ago, supporting the gradual ‘normalization’ of inflation. However, upward pressure came from transportation services such as insurance and vehicle maintenance,” explain Banca March experts.
What Does This Mean?
According to Tiffany Wilding, U.S. economist at PIMCO, these figures do not change the broader narrative that the U.S. economy remained strong at the turn of the year while inflation progress stalled. “If anything, this reinforces the Federal Reserve’s (Fed) stance of keeping rates steady for some time. We believe inflation is likely to remain uncomfortably high through 2025 (with core CPI at 3%), despite growing risks of a more pronounced slowdown in the labor market and real GDP growth, stemming from Trump’s recent immigration policy announcements and broader political uncertainty,” explains Wilding.
She adds that Trump’s policies put the Fed in a difficult position: “Sticky inflation raises questions about whether the Fed will ultimately deliver the two 25-basis-point rate cuts implied in its December Summary of Economic Projections (SEP). At the same time, a more significant slowdown in real GDP growth and labor markets—both of which have been buoyed by strong immigration trends—could increase downside risks to the economy,” she says.
Uncertainty for Central Banks
Experts agree that this situation puts the spotlight on the Fed and other monetary institutions. “Central banks are no longer a source of stability, as they are caught between the need to control inflation and the desire to avoid an economic slowdown that may be necessary to bring inflation sustainably back in line with targets. This dilemma could worsen if the U.S. tariff threat materializes, as governments may have no choice but to loosen fiscal policies. Monetary policy decisions could take investors by surprise, as central banks may take very different paths,” note Marco Giordano, Chief Investment Officer at Wellington Management, and Martin Harvey, fixed income portfolio manager at Wellington Management.
Trump and Inflation
Benjamin Melman, Global CIO at Edmond de Rothschild AM, warns that global inflation no longer seems to be retreating, especially in the U.S. services sector, while rising oil, gas, commodity, and agricultural prices have added further inflationary pressures in recent months. In this context, he argues that Trump’s administration has introduced an additional layer of uncertainty regarding future inflation trends with its tariff and deportation policies.
“While it may be tempting to downplay these concerns by suggesting that tariffs are merely a negotiation tool to extract concessions from affected countries, and that large-scale deportations are technically difficult to implement, it would be a mistake to draw conclusions just one week into Trump’s second term,” Melman points out.
However, he clarifies that even if Trump does not fully implement these inflationary measures, or does so on a limited scale, the unleashing of so-called ‘animal spirits’ in the U.S.—driven by expectations of deregulation and tax cuts—cannot be ruled out. “This is likely to stimulate the economy and inflation through more traditional channels, particularly given that the output gap is already positive,” he concludes.
Morgan Stanley announced that Arturo Karakowsky, Managing Director of the Morgan Stanley Wealth Management office in Houston, has been named a member of the Chairman’s Club, an elite group composed of the firm’s top financial advisors.
“The appointment is a recognition of creativity and excellence in providing a wide variety of investment products and wealth management services to its clients,” the company said in a statement.
A native of Houston, Texas, Karakowsky joined Morgan Stanley in 2007. He holds a degree in Financial Management from the Instituto Tecnológico y de Estudios Superiores de Monterrey and has a CFP (Certified Financial Planner) certification from Rice University. He received the Forbes Best-In-State Wealth Advisors recognition in 2024 and was named to Forbes America’s Top Next-Gen Wealth Advisors in 2022.
“I am very proud to announce that I have been named a member of the prestigious Chairman’s Club of Morgan Stanley, an elite group of the firm’s financial advisors,” Karakowsky wrote on his personal LinkedIn profile. “Thank you for your continued trust in our team. It is a privilege to help you achieve your financial goals,” he added.
The Trump administration is once again boosting the crypto market with a new initiative. Over the weekend, the U.S. president announced the creation of a “Strategic Cryptocurrency Reserve,” which will include digital assets such as Bitcoin, Ethereum, Ripple, Solana, and Cardano. These new steps align with Donald Trump’s goal of making the U.S. the “crypto capital of the world.”
As a result of this announcement, the price of some cryptocurrencies surged: Bitcoin reached $93,000, while Ripple and Cardano saw significant gains, and Ethereum rose by 11%.
Without a doubt, the initiative announced by Trump has revitalized the entire industry, as crypto market sentiment had hit rock bottom. “The Crypto Fear and Greed Index had dropped from 55 (neutral) to 21 (extreme fear) in less than a week. Last Friday’s Bybit hack shook investor confidence, compounded by growing uncertainty over tariffs on Mexico and Canada, which will indeed take effect, adding to market anxiety,” acknowledged Simon Peters, an analyst at eToro, just three days ago.
This negative sentiment was also evident in Bitcoin’s price, which was holding at the $92,000 support level. The cryptocurrency has fallen 20% from its all-time high of $109,300. According to experts, a 35% correction could bring it down to around $70,000.
The SEC Clearly Shifts Its Stance on Cryptocurrencies
Crypto industry experts highlight that these initiatives reflect a shift in Trump‘s stance on cryptocurrencies, from initial skepticism in 2019 to active support today, with the declared goal of making the U.S. the “crypto capital of the world.” A clear example of this shift is that Trump is set to host the first Cryptocurrency Summit at the White House next Friday—the first such event organized by a U.S. president.
Another example of this change in approach involves Coinbase. Last week, the SEC announced that it had agreed to dismiss its enforcement case against the company. “If incoming SEC Chairman Paul Atkins approves the decision, the dismissal will mark the end of the ‘regulation by enforcement’ approach led by former SEC Chairman Gary Gensler,” explains Frank Dowing, Director of Analysis for Next Generation Internet at ARK.
According to Dowing, during Gensler’s tenure—from April 2021 to January 2025—the SEC filed numerous cases against Coinbase and its competitors, alleging that digital asset exchanges and staking businesses violated U.S. securities laws. “Despite good-faith efforts to comply with ambiguous securities regulations applied to digital assets, cases against these companies continued. Now, a crypto-friendly administration has taken the lead. Several bills on stablecoins and digital asset market structure are expected to move quickly through the Republican-controlled Congress, providing regulatory clarity for companies in the sector. In our view, the shift toward common-sense legislation and regulation will accelerate the adoption of public blockchains, benefiting investment strategies with significant exposure to digital assets,” Dowing notes.
Crypto ETFs: An Unstoppable Success
A clear sign of the favorable environment for crypto assets is the surge in passive investment vehicles. According to State Street projections, growing demand for crypto ETFs will soon surpass assets in precious metal ETFs in North America, making them the third-largest asset class in the ETF industry—behind only stocks and bonds.
Bitcoin and Ethereum ETFs were launched in the U.S. just last year, yet they have already accumulated $136 billion in assets, despite the recent market correction. State Street also forecasts that the SEC will approve more crypto-specific ETFs this year, with Litecoin, XRP, and Solana being the most likely to receive spot ETF approval, given that multiple U.S. ETF providers have already filed applications for these products.
This week has made it clear that we are in a new multipolar world, marked by a geopolitical and multilateral relations realignment. In this scenario, populism and politics generate increasing noise, which the market, for its part, strives to ignore. According to investment firms, this context calls for investors to rethink their roadmaps. What are they proposing?
For Michael Strobaek, Global CIO, and Nannette Hechler-Fayd’herbe, Head of Investment Strategy, Sustainability, and Research, and EMEA CIO at Lombard Odier, “a geopolitical realignment could significantly reshape the global economy and financial markets, leading to more balanced risk-adjusted returns across all asset classes and highlighting the benefits of broad diversification for asset allocators.”
According to these experts, investors are navigating a new post-Cold War multipolar era, where risk-adjusted returns are converging across major asset classes. “The global liberal democratic order seems to be taking a back seat to short-term national and economic interests, led by the new U.S. administration. Asset allocators must manage risk diligently and diversify broadly, leveraging alternative assets whenever possible,” stress experts at Lombard Odier.
For Gianluca Ungari, Head of Hybrid Portfolio Management at Quantitative Investments (Vontobel), and Sven Schubert, Head of Macro Research at Quantitative Investments (Vontobel), markets are moving quickly in response to this new environment. “Despite the initial impact of the tariff announcement on Canada, Mexico, and China—followed by a 25% increase on steel and aluminum imports starting March 12—the markets have absorbed the news relatively well. The direction of market movements in early February reflects the economic effects of the U.S. tariff hikes,” they note.
February now ends with the idea of reciprocal tariffs and ongoing negotiations between the U.S. and Russia to end the war in Ukraine. Because of this, Ungari and Schubert believe investors must stay vigilant. “While we maintain a constructive market outlook and a long position in equities, hedging strategies could be crucial for performance this year. So far, our tail hedges, such as the Japanese yen and gold, have performed well. Meanwhile, European equities have outperformed in recent weeks, driven by expectations of fiscal stimulus after the German elections and Trump’s decision to delay tariffs on Canada and Mexico,” they explain.
Enguerrand Artaz, strategist and fund manager at La Financière de l’Échiquier (LFDE), acknowledges that uncertainty has surged to levels even higher than during the trade tensions of 2019. In his view, equities should rotate towards more defensive sectors that are less exposed to global trade, such as utilities and real estate. “This scenario is not necessarily negative for European small caps, which are, on average, less exposed to international trade and more sensitive to falling interest rates,” he notes.
Additionally, Artaz believes that in a diversified allocation, it would be advisable to increase the proportion of fixed-income assets. “This is a logical move, as a tariff hike is both deflationary and recessionary for affected countries. An escalation could prompt the ECB to cut rates even further. While interest rates have shown resilience so far, if uncertainty persists, it could affect investor sentiment.” Artaz concludes that “for markets, an unpleasant but defined scenario—such as a fixed and final tariff increase—is often better than ambiguity fueled by political volatility.”
Market Behavior
According to Axel Botte, Head of Market Strategy at Ostrum AM (Natixis IM), financial markets appear isolated from the erratic communications coming from Donald Trump. “The flattening of the yield curve has led to a generalized tightening of spreads. Despite the Fed’s stance of maintaining the status quo and the restrictive policy of the Bank of Japan, monetary easing remains the predominant global trend. However, the sharp rise in gold prices sends a lone note of concern,” says Botte.
This global instability is also reflected in oil prices. In fact, the price of West Texas Intermediate (WTI) crude oil reached $72.80 per barrel on February 19, 2025, closing at $72.05 per barrel. “The increase in WTI crude prices is due to a combination of geopolitical, climatic, and supply-demand factors. Uncertainty surrounding production in Russia and the United States, along with the possibility of OPEC maintaining supply restrictions, has created a favorable environment for price escalation,” explains Antonio Di Giacomo, Senior Market Analyst at XS.com.
Additionally, in his view, investors have responded to these events with increased financial speculation in oil. “Market volatility has led to a higher volume of futures contract trading, contributing to price fluctuations. In this sense, traders are closely watching for any signs of changes in production policies from major exporting countries,” says Di Giacomo.
Another asset reflecting this context is gold. “Its price will remain high throughout 2025 amid increased central bank purchases, growing concerns over the harmful effects of U.S. tariffs, and demand for newly introduced gold ETFs. However, it could weaken if the interest rate differential between the U.S. and the rest of the world remains wide, which could keep the dollar strong, exerting downward pressure on gold. That said, this is not our base-case scenario,” adds Peter Smith, Senior International Equity Strategist at Federated Hermes.
BBVA Corporate & Investment Banking (CIB) has added Sarah Swammy to its team as Managing Director of BBVA Securities Inc. (BSI) with the goal of further developing its broker-dealer infrastructure and strategically expanding its institutional business platform, the bank announced in a statement.
“We are very proud to have Sarah join us in expanding our business in the U.S.,” said Regina Gil Hernández, Head of BBVA CIB USA. “She will be key in expanding BSI’s broker-dealer infrastructure and product capabilities to better serve the business needs of our institutional clients,” she added.
Swammy has more than 20 years of experience in capital markets and risk management. She has held senior roles in operations management and business oversight, specializing in risk analysis, global markets, risk controls, and capital markets at leading international financial institutions such as Bank of America, Sumitomo Mitsui Banking Corporation, Wells Fargo, State Street, and BNY Mellon.
With her addition, BBVA CIB continues to enhance value for its institutional clients, including banks, insurance companies, and asset managers, both in the U.S. and internationally.
Swammy will report to Lucho Alarcón, Head of Global Markets USA at BBVA, and Peter Jensen, CEO of BSI.
