Argentina Set to Post the Second-Fastest Growth in South America in 2026

Posted on December 16, 2025 by Ignacio Teson

The country is also expected to outperform most nations in Latin America and the Caribbean.

Argentina’s president Javier Milei gestures as he delivers his inaugural speech.

Argentina is set to record one of the strongest economic growth rates in Latin America in 2026, trailing only a handful of countries, according to a recent report by the Economic Commission for Latin America and the Caribbean (ECLAC).

Based on the organization’s projections, Argentina’s economy is expected to expand by 3.8% in 2026, second only to Paraguay in South America, which is forecast to grow by 4.5%. Even so, this would mark a slowdown compared with the outlook for the end of the current year, when growth is projected at 4.3%.

Across the rest of Latin America and the Caribbean, growth rates higher than Argentina’s are expected only in Costa Rica (+3.9%), Honduras (+3.9%), Antigua and Barbuda (+5%), and Guyana (+24%). Guatemala is also projected to grow by 3.8%, matching Argentina’s pace.

Argentine assets on Wall Street

Argentine stocks listed in New York are also trading mostly higher. Among ADRs, banking stocks such as Grupo Supervielle (+3.1%) and Grupo Financiero Galicia (+3.0%) are leading gains, while Loma Negra is down 0.9%.

At the local level, the S&P Merval index is up 1.5% at 3,056,737.41 points, while its dollar-denominated counterpart rises 0.8% to 1,985.69 points. Shares are broadly higher, led by Aluar (+5.1%), Banco Macro (+2.8%), and BBVA Argentina (+2.4%).

Dollar-denominated sovereign bonds are also posting average gains of around 0.8%, led by the Global 2035. In this context, Argentina’s country risk index is falling sharply, breaking below 580 basis points to 573 bps.

iRobot Files for Bankruptcy as Shares Plunge More Than 70%

Posted on December 16, 2025 by Ignacio Teson

The outcome of the robot maker’s restructuring will also mean that iRobot’s common shares will stop trading on the stock market.

iRobot Corporation, globally known as the maker of Roomba robotic vacuum cleaners, filed for Chapter 11 bankruptcy protection in a Delaware court and announced that it will become a privately held company following an acquisition by its main manufacturing partner and lender, Picea Robotics.

Chapter 11 is a financial restructuring mechanism under U.S. bankruptcy law that allows companies to reorganize their debts and operations under court supervision while continuing to operate.

In this case, iRobot reached a Restructuring Support Agreement (RSA) with its secured lender and manufacturing partner, Shenzhen PICEA Robotics, along with its affiliate Santrum Hong Kong. Under the agreement, Picea will acquire 100% of iRobot through the restructuring process.

Roomba maker files for bankruptcy

The company expects the largely prepackaged process—meaning key terms were agreed in advance with creditors—to be completed by February 2026.

Under the RSA, Picea will receive full ownership of the company, eliminating iRobot’s debt and significantly reducing its financial burden, allowing the reorganized business to continue normal operations.

During the restructuring, iRobot said it will continue operating as usual, including the functionality of its products (such as Roomba apps and device support), customer service programs, relationships with global partners, and its supply chain, with no anticipated disruptions.

A streamlined company

As part of the restructuring, iRobot’s common shares will be delisted and canceled, meaning current shareholders will receive no equity in the reorganized company and no recovery on their investment if the plan is approved by the court. As a result, shares trading on Nasdaq plunged more than 70% on the day.

The bankruptcy filing follows several years of financial challenges for the company. Founded in 1990, iRobot was a pioneer in the household cleaning robot market but has faced intensifying competition from lower-cost Chinese manufacturers offering more advanced features, as well as pressure from tariffs on products made in Asia.

The company also struggled after the collapse of a planned acquisition by Amazon in 2024, which ultimately failed to materialize.

Magnificent Seven Lag in 2025, Raising Concentration Risks

Posted on December 16, 2025 by Ignacio Teson

Although Alphabet and Nvidia posted solid gains, several of Wall Street’s other leading stocks delivered more modest results.

The Magnificent Seven stocks. — The Magnificent Seven of WS.

The group of mega-cap technology companies known as the “Magnificent Seven”—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—has for years been the main engine of the U.S. stock market. But the picture looks different in 2025.

These seven stocks drove a large share of the S&P 500’s performance and became synonymous with technological leadership, especially during the artificial intelligence (AI) boom. However, the latest data show that their performance this year has been far from stellar. In fact, five of the seven have lagged the broader market so far this year.

Year-to-date performance of the “Magnificent Seven” in 2025:

Alphabet: +63%
Nvidia: +30.33%
Tesla: +13.65%
Microsoft: +13.53%
Apple: +11%
Meta: +10%
Amazon: +3%

By comparison, the S&P 500 is up 16% and the Nasdaq Composite has gained 20%.

Uneven performance among Big Tech

While companies such as Alphabet and Nvidia have still delivered strong gains, several of the other major names have posted more subdued results—or have underperformed relative to the S&P 500. This partly reflects greater dispersion within the group itself: some tech giants are growing faster than others, and not all are contributing equally to index gains.

This pattern has led some analysts to question the wisdom of concentrating investments solely in these seven names. The fact that some members are no longer among the year’s top performers is striking and contrasts with the extraordinary historical returns that originally justified the label.

Concentration risk and rotation toward traditional sectors

Another growing concern is concentration risk. The combined weight of these stocks now represents a substantial share of the S&P 500, meaning their performance can distort perceptions of the broader market.

When a small group of stocks dominates an index, a pullback in that group can drag down the entire market—even if many other companies are performing well.

At the same time, investors have been rotating toward more traditional or value-oriented sectors, such as energy, industrials, and financials, which have been gaining traction as alternatives to mega-cap tech.

Opinions differ on whether this slowdown is temporary or the start of a deeper shift. On one hand, Goldman Sachs continues to project that the Magnificent Seven will lead earnings growth in 2026, though it also notes signs that broader market participation is beginning to emerge.

Nasdaq Seeks Longer Trading Hours as Wall Street Wants 24/7 Trading

Posted on December 16, 2025 by Ignacio Teson

The stock market operator will submit documentation to the SEC on Monday to implement continuous trading. The move aims to capitalize on global demand for U.S. equities, although major banks remain cautious due to concerns over thinner liquidity and higher volatility.

Nasdaq, one of Wall Street’s main exchanges and home to technology giants such as Nvidia, Apple, and Amazon, will take a key step on Monday in its plan to extend trading to 24 hours a day. The exchange will file the necessary paperwork with the U.S. Securities and Exchange Commission (SEC) to launch round-the-clock trading, an initiative designed to tap into growing global appetite for U.S. stocks.

Demand for continuous trading has increased significantly in recent years, prompting regulators to ease rules and allow major exchanges to propose operating hours beyond traditional sessions. U.S. equity markets account for nearly two-thirds of global listed market capitalization, while foreign holdings of U.S. stocks reached $17 trillion last year, according to data compiled by Nasdaq.

The SEC filing marks Nasdaq’s first formal step toward implementing 24-hour trading, five days a week. In March, Nasdaq President Tal Cohen said the company had begun discussions with regulators and expected to roll out continuous trading in the second half of 2026. The New York Stock Exchange (NYSE) and Cboe Global Markets have also recently announced similar plans to operate around the clock.

“There has long been a trend toward globalization, and we’ve seen U.S. markets become far more global,” Chuck Mack, Nasdaq’s senior vice president of North American markets.

New operating structure

Nasdaq plans to extend trading hours for stocks and ETFs from 16 to 23 hours a day, five days a week. Currently, the exchange operates across three daily sessions: premarket trading (4:00 a.m. to 9:30 a.m. ET), the regular session (9:30 a.m. to 4:00 p.m.), and after-hours trading (4:00 p.m. to 8:00 p.m.).

Under the new structure, trading will be divided into two sessions. The daytime session will run from 4:00 a.m. to 8:00 p.m., followed by a one-hour break for maintenance, testing, and clearing. The overnight session will begin at 9:00 p.m. and end at 4:00 a.m. the following day.

The daytime session will retain the traditional opening bell at 9:30 a.m. and closing bell at 4:00 p.m. During the overnight session, trades executed between 9:00 p.m. and midnight will be recorded as transactions for the following trading day. The trading week will begin on Sunday at 9:00 p.m. and conclude on Friday at 8:00 p.m.

Tesla Shares Surge to a Record High on Wall Street

Posted on December 15, 2025 by Ignacio Teson

Shares of electric vehicle maker Tesla are rallying sharply in Monday’s session on Wall Street, hitting a new all-time high.

Tesla is ramping up production on their new Cybercab.

The stock is being lifted after reports that company directors posted unexpected gains, despite not having been granted new shares since 2020.

Shares of Elon Musk’s company are up 3.96% at $477.33, reaching previously unseen levels. The prior record high was set on November 3, when the stock closed at $468.37.

On a year-over-year basis, Tesla is up 18.17%.

[[TSLA/USD-graph]]

According to Reuters, “Tesla’s board of directors earned more than $3 billion through stock awards that far exceeded the value of those granted to their counterparts at the largest U.S. technology companies at the time they were paid.”

In a statement to Reuters, a Tesla spokesperson said that director compensation “is not excessive, but rather directly linked to stock performance and value creation for shareholders.”

The company’s CEO also said on X that Tesla is testing its robotaxis without safety supervisors in the front seat, a development that quickly circulated across financial news outlets.

The broader market

The S&P 500, which tracks the largest companies listed in New York, is down 0.16%, while the tech-heavy Nasdaq Composite falls 0.34%. The Dow Jones Industrial Average is also lower, slipping 0.23%.

Even so, heading into the final stretch of the year, major Wall Street indices are posting broad gains in 2025 and hovering near record highs. Over the past year, the Nasdaq is up 16%, the S&P 500 has gained 12.65%, and the Dow Jones has risen 10.40%.

Key themes for the week ahead

Caution remains among investors, as the week is packed with major decisions from the world’s leading central banks, alongside the release of delayed U.S. economic data.

Among the central banks meeting this week, the Bank of Japan is expected to raise interest rates by 25 basis points to 0.75%, while the Bank of England could deliver a cut of the same magnitude, bringing rates down to 3.75%.

The European Central Bank is widely expected to leave rates unchanged, along with Sweden’s Riksbank and Norway’s Norges Bank.

Investors will also have a chance to catch up on U.S. economic data that were delayed by the federal government shutdown, including the November jobs report and the monthly consumer price index, scheduled for release on Tuesday and Thursday, respectively.

Bitcoin Falls to $87,000 Ahead of Key Fed Data

Posted on December 15, 2025 by Ignacio Teson

The leading cryptocurrency showed little movement over the past week and is now waiting for market signals to gauge its next direction.

The cryptocurrency market is trading with limited moves at the start of Monday’s session. Bitcoin (BTC) is priced at $87,846, according to Binance, amid a backdrop of moderate risk appetite. Ethereum (ETH) is also lower, down 1.1% at $3,052.

Altcoins are broadly in negative territory. TRON (TRX) stands out as the sole gainer, up 1.9%, while most other tokens are trading lower.

[[BTC/USD-graph]]

Focus on Fed data and signals

In recent sessions, Bitcoin has struggled to gain traction, with investors reluctant to take on new positions. That said, several key releases are expected to shape interest rate expectations in the days ahead. Upcoming U.S. employment data, weekly jobless claims, November inflation figures, and preliminary December PMI readings will help determine the strength of the U.S. economy.

In addition, speeches by Federal Reserve officials Stephen Miran and Christopher J. Waller will be closely watched for clues on the future path of rates.

Markets are also bracing for policy decisions this week from the Bank of Japan, the Bank of England, and the European Central Bank, after recent central bank meetings further eroded confidence in risk assets.

Traditional markets

Wall Street futures point to a rebound after last week’s sharp losses. Still, caution prevails among investors, as the week is packed with major central bank decisions and the release of lagging U.S. economic data.

In this context, the S&P 500 is up 0.32%, the tech-heavy Nasdaq Composite gains 0.25%, and the Dow Jones Industrial Average rises 0.28%.

Top gainers include KLA Corp (+5%), Gardner (+4.6%), and Akamai (+4.3%). On the downside, the steepest losses are seen in ServiceNow Inc (-8.35%) and CoStar (-4.51%).

Looking toward the final stretch of the year, major Wall Street indices are posting broad gains in 2025 and remain near record highs. Over the past year, the Nasdaq is up 16.40%, the S&P 500 has gained 12.83%, and the Dow Jones is higher by 10.56%.

France Moves to Block EU–Mercosur Trade Deal

Posted on December 15, 2025 by Ignacio Teson

Agricultural unions argue the pact offers insufficient protection, prompting members of the European Parliament to devise a plan to win their support.

The chances of signing the European Union (EU)–Mercosur agreement this Saturday in Brazil have diminished after France called for postponing the vote by EU member states scheduled for this week in Brussels. In that vein, President Emmanuel Macron urged European Commission President Ursula von der Leyen to delay the review of the deal, which had been slated for between Tuesday and Friday.

“At this stage, the numbers don’t add up to protect French farmers. France’s demands have not been met,” Paris said late Sunday about what would be the largest trade agreement in the bloc’s history. Agricultural unions have pledged to mobilize up to 10,000 protesters on Thursday, during a meeting of European heads of state and government.

Paula Pinha, a Commission spokesperson, said: “We expect all conditions to be in place for a signing next weekend.”

“It’s now or never,” a Commission source insisted, while a European diplomat speaking on condition of anonymity warned: “If there is no compromise this week, we risk a serious European crisis. It would be a major failure for the Commission, for Germany, and for Spain.”

Those two countries, along with the Nordics, are pushing to relaunch exports amid Europe’s economic slowdown, rising competition from China, and U.S. tariffs. Because only a qualified majority is required, France would not be able to block the agreement on its own.

MEPs’ plan to win over France

“All French lawmakers will vote against it, as will most Poles,” said a source familiar with the European Parliament. The radical left and the far right are also expected to oppose the treaty, bringing opposition to “around 300 lawmakers” out of 720.

To address this, MEPs are considering “safeguard” measures aimed at winning French support by reassuring farmers. The EU would pledge “enhanced monitoring” of the most sensitive products—such as beef, poultry, rice, honey, eggs, garlic, ethanol, and sugar—with intervention mechanisms in case of market disruption.

What the EU–Mercosur free trade agreement entails

According to Brazilian President Luiz Inácio Lula da Silva, the agreement stands out for its economic scale. Once concluded, it would cover 722 million people and represent a combined GDP of $22 trillion, positioning it as the “largest trade agreement in the world.”

The EU–Mercosur deal centers on a key objective: the gradual dismantling of tariff barriers and the creation of a broad free trade area with clear rules of origin designed to keep benefits within both blocs. The text also establishes a regulatory framework covering services, intellectual property, public procurement, sustainable trade, state-owned enterprises, and dispute settlement mechanisms—crucial for long-term predictability.

Under the agreement, tariffs would be eliminated on 90% of bilateral trade.

Barclays: Bitcoin Is Now a Mature Asset After U.S. Regulatory Shift

Posted on December 15, 2025 by Ignacio Teson

The British bank said that the regulatory changes introduced in 2025 marked a turning point for cryptocurrencies. Despite deeper institutional integration, it warned that the asset class still carries a high-risk profile.

Bitcoin's price movement is unpredictable right now. — Bitcoin’s price movement is unpredictable right now.

For Barclays, the regulatory shift implemented by the United States in 2025 signals the beginning of a new phase in which regulation may act as a catalyst for the sector’s maturation rather than a threat to its development.

In just over 15 years, Bitcoin has evolved from a fringe proposal into an asset integrated into the global financial system. The launch of futures in 2017 and the approval of spot ETFs in 2024 paved the way for broader institutional adoption.

Recent developments have transformed the U.S. landscape from hostile to supportive, setting the stage for 2026. “The process of financialization has brought the market to a critical inflection point,” the British bank said, adding that next year could mark the moment of “regulatory reality,” as global frameworks move from theoretical discussions to active implementation.

[[BTC/USD-graph]]

White House shift

The U.S. government began the year with an executive order explicitly banning a central bank digital currency (CBDC), signaling a clear preference for private-sector innovation over a state-controlled “digital dollar.”

The Securities and Exchange Commission (SEC) repealed accounting bulletin SAB 121, removing a key obstacle that had prevented large banks from offering digital asset custody. The regulator also dropped its high-profile lawsuits against Coinbase, Uniswap Labs, and Ripple.

In July, Congress passed the GENIUS Act, establishing the first federal framework for stablecoin issuers. The Department of Labor revised its guidance on 401(k) pension funds, while an executive order promoted access to crypto assets within these vehicles.

The process culminated in October, when the SEC and the U.S. Commodity Futures Trading Commission (CFTC) announced new coordinated regulatory agendas and a joint initiative dubbed “Project Crypto.”

A new asset class?

With the regulatory path now clearer, Barclays assessed Bitcoin’s potential evolution as a standalone asset class. It noted that the cryptocurrency meets several structural requirements, including market capitalization, liquidity, and access through regulated instruments such as ETFs and futures.

Analysts also highlighted that Bitcoin’s correlation with traditional assets varies depending on market risk regimes.

During periods of low volatility, correlations with bonds, commodities, and gold were close to zero, while its correlation with equities stood at 0.26. In high-volatility phases, its link to risk assets strengthened, rising to 0.47 with equities and 0.22 with commodities and gold.

This pattern confirms that Bitcoin tends to move alongside equities and commodities during periods of market stress, suggesting it retains a predominantly “risk-on” profile.

Fed Sees Growth in 2026, Trump Unimpressed

Posted on December 13, 2025 by Ignacio Teson

The Federal Reserve (Fed) aims to hand over a solid economy to whoever succeeds Jerome Powell as chair.

After cutting interest rates by 25 basis points on Wednesday, the U.S. Federal Reserve projected faster growth, lower inflation, and stable unemployment heading into the 2026 midterm elections. Policymakers also anticipate the economy will move past a period of volatility and disruption driven by tariffs and immigration, transitioning into a year of solid productivity and resilient consumer spending.

“I really want to hand this job to my successor with the economy in great shape—that’s what I want to do,” Fed Chair Jerome Powell said at his post-meeting press conference, following the central bank’s third consecutive rate cut. “I want inflation to be under control, back down to 2%, and I want the labor market to be strong.”

These projections, however, have failed to satisfy U.S. President Donald Trump. Far from endorsing Powell’s cautious approach, Trump believes rate cuts should be carried out far more aggressively. As a result, he has already drawn up a shortlist of potential candidates to lead the Fed, including Kevin Hassett, his top economic adviser, who would be more aligned with his demands.

Still, even if the next chair inherits a solid economy, they will take charge of a policymaking committee that remains unconvinced of the need for substantially looser monetary policy.

Quarterly projections show that inflation is rising faster, interest rates are higher, and economic growth is slower than central bankers had anticipated last September—just before Trump’s election victory in November. Even so, officials expect fears of what some analysts dubbed “light stagflation”—high unemployment alongside high inflation—to gradually fade.

2026 Outlook and Midterm Elections

According to the Fed’s latest projections, inflation is expected to end 2026 at 2.4%, down from 2.9% projected for the end of this year. Economic growth is forecast to accelerate to 2.3%, compared with 1.7% this year—a positive outcome despite the government shutdown that affected the Trump administration. Meanwhile, the unemployment rate, reported at 4.4% in September, is expected to edge slightly higher before ending 2026 once again at 4.4%.

EU Targets Chinese Imports With €3 Fee on Small Parcels

Posted on December 13, 2025 by Ignacio Teson

The measure will take effect on July 1 and marks the first of several steps the bloc plans to take to curb the surge in such orders.

European Union finance ministers agreed on Friday to impose a €3 ($3.50) levy on all small parcels entering the bloc starting July 1. The measure will apply to shipments valued below €150 ($174).

The decision aims to rein in the flood of low-cost packages sent by Asian e-commerce platforms such as Shein, Temu, and AliExpress. About a month ago, finance officials from the EU’s 27 member states approved the removal of the long-standing tariff exemption for these shipments.

European producers and retailers have increasingly complained about the massive inflow of duty-free imports, which they view as unfair competition. In many cases, they also argue that these products fail to meet EU regulatory standards.

In 2024 alone, roughly 4.6 billion parcels worth less than €150 entered the European market—equivalent to more than 145 packages per second. Of that total, 91% originated in China.

Seeking a permanent solution

According to an EU spokesperson, the €3 levy is a temporary measure and only the first step, to remain in place until the bloc develops a permanent solution to address the issue.

French Finance Minister Roland Lescure welcomed the new tax, calling it a “major victory for the European Union.”

Starting in November 2026, the measure is expected to be complemented by handling fees on the same low-value shipments. In May, Brussels proposed setting those fees at €2 per parcel.