The S&P Merval rebounds and is on track to close the month with a 20% increase, without the Wall Street reference

The S&P Merval rebounds, after falling the previous dayand is on track to close the month with an increase of 20%, measured in pesos, and more than 25% measured in foreign currency, since it is at 2,005.27. This happens while there is no reference from the foreign place.

Both the stock and bond markets will be closed in New York on Thursday. on Thanksgiving Day. Trading will resume on Friday during Black Friday, but will end early: Wall Street will close at 1 pm and bonds at 2 pm US time. That is, 3 pm Argentina time and 4 pm respectively.

Thus, the S&P Merval It advances 0.5% to 2,217,112.840 points, while in dollars it falls to 1,989.82 points. Among the leading actions that are making the most progress are: Black Hill +2.2%), irsa (+2.2%) and Macro Bank (+1.8%).

As for bonds, without JP Morgan reference therefore without country risk, they register the majority of decreases, the main ones: Global 2028 (-2%), and the Global 2046 (-1.7%).

Juan Manuel Franco, Chief Economist of SBS Groupassures: “The end of the week is due to holidays in the United States, so financial activity should not show great volatility. Thus, The market will be more focused on domestic data such as high-frequency private inflation measurements, or political news in terms of whether or not there are extraordinary sessions in Congress. and, if there is, what the agenda would be, remembering that not much progress has yet been made regarding the treatment of the 2025 budget project.”

Tender: how was the result

The Ministry of Economy awarded $5.81 billion on Wednesday in the last tender in November although it had received offers for $6.58 billion.“The Treasury was generous regarding rates, offering between +10/+14 basis points above the secondary market reference before the auction conditions were known”they explained from PPI.

As Pablo Quirno mentioned on his networks, This placement made it possible to extend the terms, reducing refinancing costs. In turn, the surplus of $1.59 trillion will be deposited in the Treasury account at the Central Bank.

Specifically, amounts were awarded in all tendered deadlines. Sothe cut-off rates were 2.95% and 2.7% of TEM for the reopening of the Lecaps in mid-May and the BONCAP in October, respectively, and 2.6% for the new BONCAP in February. For its part, the rates of the CER bonds for March and October 2026 fell at CER+8.2% and CER+8.5%, remaining slightly above the secondary market.