This is how the markets wake up – October 21, 2025

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| Moderate optimism in the face of a challenging environment

• Financial reports from Netflix, Coca-Cola and General Motors are expected to boost consumer sentiment. global stock market.

   

• The COP moderates losses after the first diplomatic rapprochement between Colombia and the US, although caution persists due to the tariff threat.

   

• Global bond markets remain stable, with slightly flatter curves and a cautious tone ahead of upcoming decisions by the Fed and the ECB.

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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.beltran@accivalores.com

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

| Sara Sofia Guzmán Suárez: Intern – sara.guzman@accivalores.com