We are pleased to share with you our latest Market Update presentation, which provides a comprehensive overview of our outlook for the global and Spanish economies, financial markets, and the real estate sector. In the video recording of the presentation and the supporting document, our economists delve into several key themes, including the divergence in cycles between the US, the euro area and China, the evolution of inflation, the expected direction of interest rates in the coming years, as well as our insights into the future of financial markets. Additionally, we explore the potential turning points in the real estate sector, among other pertinent topics.