In the case of AL30D, the loss was 3.71% and stood at 24.81, while its foreign legislation pair GD30D marked negative 2.86 to 28.86. Likewise, the spread between legislation increased again to 16% with a preference for the global 2030 foreign law in the face of greater legal protection in adverse cases. Regarding the required yields of both, the LA30 amounted to almost 37%, while the GD30 did so around 32%.
Fixed income surprised with a total collapse in bonds that adjust their capital by CER. After rates were involved in a dynamic of rapid recovery in mid-May and along the entire curve, yesterday, in the midst of a context that became uncertain, the jump was very aggressive, causing prices to drop to 5% on short sections.
In the medium tranches, the capital loss rose to 10%, while the longer ones lost even more according to greater sensitivity, with the CUAP among them and a loss of 11.71% of its market price. .
“Adverse concerns and rumors hurt flow expectations and addressed CER-indexed bonds, considering the large amount of this type of asset that the government must constantly refinance. Among the reasons, an uncertainty and a decrease in confidence that was massified in a greater intention to sell together with the significant withdrawal of funds generated a capital loss in the securities that not only affected the periods of the subsequent presidential mandate, ”they highlighted from Rava stock.
Meanwhile, the Argentine country risk of the JP. Morgan bank rose 2% to 1,970 points, the highest in three months.
For its part, the ByMA S&P Merval stock index fell 1.1% to 89,947 points, after improving 0.65% on Tuesday and losing 1.55% at the beginning of the week. The main drops were recorded by the shares of Cresud (5.1%), BBVA (4.1%) and Macro (3.9%). Meanwhile, the most important increases were recorded by Aluar (1.9%), Ternium (0.65%) and Transportadora de Gas del Sur (0.6%).
As for the papers listed on the New York Stock Exchange (ADR), they operated in the red thanks to Cresud, which fell 5.4%. Ternium (-4.6%), Grupo Supervielle (-3.9%) and Banco Macro (-3.3%) also fell. In turn, Central Puerto (1.1%), Despegar (0.6%) and YPF (0.1%) advanced.
Source: Ambito
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