the bond operates at 20%, after hitting an intraday ceiling of 93%

the bond operates at 20%, after hitting an intraday ceiling of 93%

October 16, 2025 – 16:55

It happened in a context of lack of liquidity and demand for coverage in dollars. Faced with this situation, the Treasury decided in Wednesday’s tender not to renew all maturities and inject pesos into the market.

Mariano Fuchila

Rates in local currency maintain their tendency towards extreme volatility this Thursday, in a context marked by a lack of liquidity and the demand for coverage in dollars, prior to the elections. With the recent tender, the Treasury will seek that the injected pesos generate greater stability in yields.

After closing on Wednesday at 10%, as a result of the intervention of the Central Bank (BCRA), the rate of the Caution One day he climbed hard again this day. At the beginning of the wheel it reached a ceiling of 93%, and then fell back to the 20% area.

With greater impetus, the rate of Repo It is positioned at 100% according to market sources. On the previous day it had reached 190%.

This tendency to increase rates responds to the lack of liquidityin a context in which banks stopped lending money to the BCRA and many ransoms were received from Money Market Funds. On the other hand, demand accelerated, for example, for Dollar linked securities.

The Treasury injected pesos into the market, to rebuild liquidity

Faced with this scenario, the Ministry of Economy decided to refinance only 45.7% of the maturities that I had this week. The objective was not to validate this level of rates and to provide more weights to the market to stabilize the volatility of returns.

The settlement of the titles will take place this Friday, which is why It is expected that starting tomorrow there will be a greater impact on market rates.


Source: Ambito

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