How the second semester is shaping up for investments
The scenario shows a margin of evolution for equity, as well as solid conditions for safer investments such as fixed income.
As time progresses, economic uncertainties in Chile are becoming increasingly less, compared to the pandemic and post-pandemic period. It is estimated that the country's growth will hover between 2% and 3% this year, while inflation -although affected by increases in electricity rates- would close at a margin close to 4.2%, with the projection that by 2026 the goal of a price increase of less than 3% would be achieved. Meanwhile, copper brings good news, as it is predicted that the pound will average US$4.3 up until 2026.
With all this, how would the second semester come for investors? Sergio Tricio, CEO of the financial planning startup Patrimore, highlights two important factors at an international level that depend on the United States. It is still a mystery when and to what extent the U.S. Federal Reserve will lower rates, which will surely connect with the final stretch of the presidential elections. So far, expectations continue to be favorable for the markets, which has been observed in the evolution of the main stock indices globally and the recovery of commodities.
"History has taught us that low interest rates favor the revaluation of risk assets," explains Tricio. "Although the market has already anticipated some of these effects, there could still be room for an extension of the good times we are seeing in the global markets."
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"In Chile, fixed income has emerged as an especially attractive option due to its favorable risk/return ratio. Although stocks have displayed superior performance, fixed income offers competitive returns with considerably less risk, making it an excellent alternative for cautious investors," states the market expert.
The opportunities in emerging markets seem particularly promising, as long as economic stability in the U.S. is maintained and the anticipated recession is avoided. "Equity is likely to continue to perform well in a stable economic environment", Tricio maintains.
Meanwhile, term deposits, which have already abandoned returns close to two digits, would continue to be one of the main instruments in investment portfolios, however, the expert concludes that gradually, as it has been observed since last year, they will continue losing ground and moving towards fixed income.