This is how the markets wake up – August 14, 2025

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| US PPI higher than expected

• Global stock markets downwards, awaiting the development of the war in Ukraine.
• The dollar rebounds and reduces the potential of Latin American currencies.
• Global fixed income mixed operation after a higher-than-expected PPI in the US.

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| Hector Wilson Tovar Garcia: Research Manager – wtovar@accivalores.com

| Maria Alejandra Martinez Botero: Research Director – maria.martinez@accivalores.com

| Laura Sophia Fajardo Rojas: IE Analyst – laura.fajardo@accivalores.com

| Hugo Camilo Beltran Gomez: IE Analyst – hugo.gomez@accivalores.com

| Maria Lorena Moreno: Analyst – maria.moreno@accivalores.com

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