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IMF and World Bank to mobilise additional $150 billion to mitigate energy shock in emerging economies

Norbolsa | Last weekend saw the conclusion of the IMF and World Bank meetings, amid concerns over the impact of geopolitical shocks and the fleeting optimism generated by news of the opening of the Strait of Hormuz. Nevertheless, it became clear that the expectation of the US as a decisive force in resolving global conflicts cannot be sustained, given the increasing frequency of geopolitical impacts. Nevertheless, they committed to mobilising…


oil plataform

IEA executive director says two years needed to recover lost Middle East energy production

Link Securities | According to a report by Reuters, Fatih Birol, executive director of the International Energy Agency (IEA), stated that it will take around two years to recover the energy production lost in the Middle East due to the conflict between the United States and Iran. He said this would vary from country to country. In Iraq, for example, it would take much longer than in Saudi Arabia. Furthermore,…


china yuan mirada

China’s GDP grows 5% year-on-year in Q1 2026, largest increase in last three quarters

Link Securities | According to data from the National Bureau of Statistics (NBS), China’s Gross Domestic Product (GDP) grew by 5.0% year-on-year in Q1 2026, accelerating from the 4.5% growth recorded in Q4 2025 and exceeding analysts’ forecasts of 4.8% growth. This figure represents the largest year-on-year increase in the last three quarters as the Chinese government braces for the potential impact of the war in Iran. So far, the…


Trump Aranceles

US to launch system for issuing refunds to US importers next Monday

Norbolsa | The Trump Administration plans to launch the system it will use to issue refunds to US importers next Monday, according to a spokesperson for US Customs and Border Protection. The system, known as CAPE, will consolidate the refunds so that importers affected by the court ruling on Trump’s tariffs receive a single electronic payment with the corresponding interest. The Agency’s announcement stated that 56,497 companies have completed the…


oil plataform

International Energy Agency believes crude oil market experiencing biggest supply shock in its history

Bankinter | The International Energy Agency (IEA) has published its monthly report. Weakness in both supply and demand. It believes that the crude oil market is experiencing the biggest supply shock in its history due to the war in Iran. This has a direct impact on prices, demand, inventories and inflation. Specifically, it estimates that crude oil demand in 2026 will fall by 80,000 barrels per day on an annual…


EEUU consumidores conference board

US CPI for March yet to reflect full impact of Iran conflict: 3.3%, slightly below 3.4% expected

Bankinter | The CPI rose slightly less than expected in March: 3.3% against an estimate of 3.4% and a previous reading of 2.4%. Core rate 2.6% compared to an estimated 2.7% and the previous 2.5%. Analysis team’s view: the monthly figure (0.9% month-on-month) is the highest since June 2022, driven by the energy shock following the outbreak of the conflict in the Middle East. The rise excluding energy is more…


china autos

Total vehicle sales in China fall 0.6% year-on-year in March to 2.899 million units, down 15.2% in February

Link Securities | The China Association of Automobile Manufacturers (CAAM) reported that total vehicle sales in China fell by 0.6% year-on-year in March (down 15.2% in February), reaching 2.899 million units. It should be noted that February sales plummeted as volumes were affected by the significant reduction in working days, since the Lunar New Year holidays fell in February this year rather than January last year. It is also worth…


eeuu madeinCM

US economy growing at slower-than-expected rate, PCE moderates by 0.1 percentage points, as expected

Bankinter | The US economy is growing at a slower-than-expected rate and the PCE has moderated by 0.1 percentage points, as expected. US GDP for Q4 2025 was revised downwards to 0.5% quarter-on-quarter annualised, below the expected 0.7% and the initial estimate, with private consumption slowing to 1.9% versus the expected 2% and investment falling to 2.3% versus the expected 3.3%. In year-on-year terms, growth remains at 2.0% year-on-year, in…


petroleo rusiaCM

Potential short-term easing in crude oil risk premiums, falling by around 14% to below $100

Norbolsa | US President Donald Trump unexpectedly announced a two-week ceasefire with Iran, shortly before his ultimatum for Tehran to reopen the Strait of Hormuz or face severe attacks on its civilian infrastructure expired. This change in tone follows previous warnings of a sharp escalation, highlighting the high sensitivity of the conflict to political factors and last-minute negotiations. Pakistan’s mediation, led by military chief Asim Muniry and Prime Minister Shehbaz…


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Final figure for Q4 2025 US labour costs: 4.4% year-on-year, compared with preliminary figure of 2.8%

Bankinter | Unit labour costs in Q4 2025 (final figure) rose by 4.4%, exceeding the expected 3.6% versus the preliminary 2.8% and compared with the previous drop of 1.8%. Productivity moderated to 1.8%, in line with expectations, from the preliminary 2.8% and 5.2% in Q3 2025. Analysis team’s view: cost pressures in the labour market increased in Q4 2025. It should be noted that Q4 2025 GDP (during which the…