The episode begins with a greeting and date, setting the context for March 18. It reports that European investor confidence deteriorated strongly in March, with the ZEW indicator falling to -8.5 points, below February and expectations, due to rising oil prices and escalation of the conflict in Iran. In U.S. markets, stocks extended their rebound with some calm regarding energy risk, though the tech sector showed mixed signals. Semiconductors continued to lead, driven by expectations of demand, particularly for AI chips. All this occurs with focus on the upcoming Fed meeting. In Europe, stocks rose, boosted by banks and energy sectors. Asian markets had mixed performance, with South Korea and Taiwan standing out due to momentum from AI chips. In international fixed income, Treasury bonds maintained solid demand. The market expects the Fed to keep rates steady, but new projections and Powell's message will be key in an environment of high energy prices and labor market slowdown. In Colombia, core cap fell to less than -8.5 points, significantly below February and expectations. In the foreign exchange market, the dollar closed at $3,693, with a $0.32 change, and the peso was perceived as 18%. Additionally, DANE will publish today the economic tracking indicator, estimated to have marked 3.2% annual in January, the highest in four months, but in a context of growing risks with higher expected growth, higher inflation, and fiscal pressures. Finally, Bancolombia published an update of economic perspectives for Colombia for 2026, lowering growth expectations to 2.9%, expecting inflation to close at 6.4%, the repo rate to reach 12.75% by year-end, and the fiscal deficit to hit 7% of GDP. The episode concludes with a farewell wish for a good Wednesday.
