CaixaBank Financial Markets Daily Report 06 March 2026 Heightened geopolitical tensions kept markets volatile as the Middle East conflict entered its sixth day. Energy prices moved higher, with Brent crude rising to $85/barrel and TTF gas to €50/MWh. Equities extended their sell-off in the US and the euro area after their short rebound on Wednesday, while the dollar strengthened, pushing EUR/USD toward 1.16. Spain's outlook The Spanish economy faces 2026 with optimism The Spanish economy successfully navigated the trade and geopolitical tensions affecting the global environment in 2025, achieving growth of 2.8%. This figure clearly surpasses both our forecast at the start of year, which was 2.3%, and the euro area’s growth, which stood… CaixaBank Research 13 February 2026 Opinion Dynamic, balanced and sustainable growth The Spanish economy continues to advance at a dynamic pace. For several years now, it has maintained relatively high growth, both from a historical perspective and in comparison with most developed economies. Oriol Aspachs 13 February 2026 World outlook Global stability: superficial mirage or structural strength? The latest update of the IMF's World Economic Outlook highlights stable growth expectations for the global economy (GDP +3.3% in 2026 and 3.2% in 2027). Technological dynamism, particularly investment related to AI, continues to sustain economic activity, especially in… CaixaBank Research 13 February 2026 Opinion Reality or fiction? The answer lies in the data It is becoming increasingly difficult to ignore the noise caused by the geopolitical context and focus on the signal coming from macroeconomic data. The sense of vulnerability is heightened by the unpredictability surrounding the pace of change in the old international… José Ramón Díez 12 February 2026 Stock markets Innovation, expectations and vertigo: is AI-driven concentration reshaping Wall Street? David del Val 12 February 2026 Financial markets outlook A start to the year with cross-currents in the financial markets CaixaBank Research 12 February 2026 International India 12 February 2026 Tourism Business turnover, a structural challenge for Spain’s catering sector Pedro Álvarez Ondina 11 February 2026 Public sector Treasury funding needs in 2026: high but manageable thanks to strong demand Javier García Arenas 11 February 2026 Real estate There are reasons why housing has become the top concern among European citizens David Martínez Turégano 11 February 2026 Publications Monthly Report February 2026 | No. 508 10 February 2026 Sectorial Report Tourism. Spanish tourism sector: from post-pandemic rebound to sustainable growth S1 2026 Spain Spain’s Macroeconomic & Financial Outlook 13 February 2026 Portugal Portugal’s Macroeconomic & Financial Outlook 13 February 2026 Sectorial Report Agrifood. The Spanish agrifood sector gains momentum 2025 Sectorial Report Real Estate. The Spanish real estate sector is in full expansionary phase S2 2025 Sectorial Report Sectoral Observatory S1 2025 Sectorial Report Manufacturing Industry 2023 Opinion Editorial Dynamic, balanced and sustainable growth Oriol Aspachs Head of Spanish Economics Key points of the month Reality or fiction? The answer lies in the data José Ramón Díez Head of International Economics & Markets Recommended Spain's outlook The Spanish economy faces 2026 with optimism CaixaBank Research 13 February 2026 Opinion Dynamic, balanced and sustainable growth Oriol Aspachs 13 February 2026 World outlook Global stability: superficial mirage or structural strength? CaixaBank Research 13 February 2026 Opinion Reality or fiction? The answer lies in the data José Ramón Díez 12 February 2026 Stock markets Innovation, expectations and vertigo: is AI-driven concentration reshaping Wall Street? David del Val 12 February 2026 Financial markets outlook A start to the year with cross-currents in the financial markets CaixaBank Research 12 February 2026 Tourism Business turnover, a structural challenge for Spain’s catering sector Pedro Álvarez Ondina 11 February 2026 Public sector Treasury funding needs in 2026: high but manageable thanks to strong demand Javier García Arenas 11 February 2026 Real estate There are reasons why housing has become the top concern among European citizens David Martínez Turégano 11 February 2026 Most read Treasury funding needs in 2026: high but manageable thanks to strong demand Business turnover, a structural challenge for Spain’s catering sector There are reasons why housing has become the top concern among European citizens The Spanish economy faces 2026 with optimism Dynamic, balanced and sustainable growth Newsletter Being informed now is more important than ever Get our latest updates Sign in Hot topics Digitalisation & Technology Monetary and fiscal policy Podcasts De la macro a la micro: los datos de alta frecuencia al servicio de la economía 24/02/2026 Forecasts Financial markets Update date 09-02-2026 2023 2024 2025 2026 Fed Funds 5.25 4.25 3.50 3.00 ECB Refi 4.50 3.24 2.15 2.15 Macroeconomic Update date 09-02-2026 2023 2024 2025 2026 Euro area GDP 1.1 0.9 1.5 1.2 Spain GDP 2.5 3.5 2.8 2.1 US GDP 2.9 2.8 1.8 1.9 Team Pedro Álvarez Ondina Economist Jesús Manuel Carrera Moreno Research assistant Nuria Bustamante Lead economist Mireia Crusells Analyst Roser Ferrer Senior economist Luís Pinheiro de Matos Economist Alberto Graziano Senior Data Scientist Meet us Léopold Jouven Economist Ana María Porras Organization Zoel Martín Vilató Economist Sergio Díaz Economist Javier García Arenas Senior economist Judit Montoriol Garriga Lead economist Eduard Alcobé Garcia Data scientist Meet us Imelda Esteban Senior economist Catalina Becu Research assistant Javier Ibáñez de Aldecoa Fuster Economist Carolina Cruz Organization Ana Rincón García Organization María Romero Meléndez Economista Josep Mestres Domènech Lead economist Meet us José Ramón Díez Head of International Economics & Markets Enric Fernández Chief Economist Jesús Viscarri Organization Oriol Carreras Baquer Senior economist Adrià Morron Salmeron Lead economist Patricia Esteban Communication Sandra Jódar Rosell Director of Strategic Planning Meet us David Cesar Heymann Economist José Antonio Sánchez Palomino Data scientist Isabela Lara White Economist Beatriz Villafranca Serrano Economist Mar Bisquert Perles Data scientist Ariadna Vidal Martínez Lead economist Marina Tombas Suñé Data Scientist Meet us Maitane Lizarraga Analyst Oriol Aspachs Head of Spanish Economics David del Val Senior economist Rita Sánchez Soliva Economist David Martínez Turégano Senior economist Meet us
Spain's outlook The Spanish economy faces 2026 with optimism The Spanish economy successfully navigated the trade and geopolitical tensions affecting the global environment in 2025, achieving growth of 2.8%. This figure clearly surpasses both our forecast at the start of year, which was 2.3%, and the euro area’s growth, which stood… CaixaBank Research 13 February 2026
Opinion Dynamic, balanced and sustainable growth The Spanish economy continues to advance at a dynamic pace. For several years now, it has maintained relatively high growth, both from a historical perspective and in comparison with most developed economies. Oriol Aspachs 13 February 2026
World outlook Global stability: superficial mirage or structural strength? The latest update of the IMF's World Economic Outlook highlights stable growth expectations for the global economy (GDP +3.3% in 2026 and 3.2% in 2027). Technological dynamism, particularly investment related to AI, continues to sustain economic activity, especially in… CaixaBank Research 13 February 2026
Opinion Reality or fiction? The answer lies in the data It is becoming increasingly difficult to ignore the noise caused by the geopolitical context and focus on the signal coming from macroeconomic data. The sense of vulnerability is heightened by the unpredictability surrounding the pace of change in the old international… José Ramón Díez 12 February 2026
Stock markets Innovation, expectations and vertigo: is AI-driven concentration reshaping Wall Street? David del Val 12 February 2026
Financial markets outlook A start to the year with cross-currents in the financial markets CaixaBank Research 12 February 2026
Tourism Business turnover, a structural challenge for Spain’s catering sector Pedro Álvarez Ondina 11 February 2026
Public sector Treasury funding needs in 2026: high but manageable thanks to strong demand Javier García Arenas 11 February 2026
Real estate There are reasons why housing has become the top concern among European citizens David Martínez Turégano 11 February 2026
Sectorial Report Tourism. Spanish tourism sector: from post-pandemic rebound to sustainable growth S1 2026
Reality or fiction? The answer lies in the data José Ramón Díez Head of International Economics & Markets
World outlook Global stability: superficial mirage or structural strength? CaixaBank Research 13 February 2026
Stock markets Innovation, expectations and vertigo: is AI-driven concentration reshaping Wall Street? David del Val 12 February 2026
Financial markets outlook A start to the year with cross-currents in the financial markets CaixaBank Research 12 February 2026
Tourism Business turnover, a structural challenge for Spain’s catering sector Pedro Álvarez Ondina 11 February 2026
Public sector Treasury funding needs in 2026: high but manageable thanks to strong demand Javier García Arenas 11 February 2026
Real estate There are reasons why housing has become the top concern among European citizens David Martínez Turégano 11 February 2026