The S&P Merval shares they bounce propelled by YPF this Friday, but dollar bonds fall and country risk records its second increase during November. However, market analysts still observe that the Argentine market has “potential”both for bonds and for stocks.
He S&P Merval keep it up 1.4% to 2,170,828 points, while, in dollars, it is located in 1942 units. The leading stocks that rise the most are YPF (+4.8%), Ternium (+4%), Telecom (+3.2%), and Aluar (+2.7%).
On Wall Street, the papers of Argentine companies operate mixed, with increases of up to 4.2% led by YPF and down to 4.5% by the hand of IRSA.
Bonds and country risk
The bonusesfor their part, fall to 2.8%, which leads to rcountry risk to record its second rise of November and move away from the 700 basis points on the previous day.
Thus, those who fall the most are Bonar 2029 (-2.8%) and the Bonar 2035 (-1.9%). In that context, the country risk rises until the 734 basic pointsas measured by JP Morgan.
Despite this, market analysts observe that they maintain good expectations in the markets and they expect the country risk to continue to decline. “I think we are going to see a calm market with bonds that still have potential just like stocks,” says the Emerald Capital economist, Elena Alonso.
The market expectation
“The market is attentive this week to see what happens next with the Treasury tender ratesif they go to CER bonds, which come with a little more demand in recent days, or go to fixed ones, with Lecapswhich stagnated the rise a little,” says Alonso.
The analyst still sees potential in bonds, for the expectation that the country risk will continue to decline, and is confident that the macro variables with improvements and the positive relationship with the new president-elect of the United States, donald trumpthey will play in their favor.
In turn, Juan Manuel FrancoChief Economist of SBS Groupopined: “Looking forward, the market will closely follow variables such as the BCRA’s dollar purchases in the MULC and how the dynamics of private deposits in dollars continue with stage 1 of laundering already completed.”
Source: Ambito
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