The market started the week with a strong tension following the turbulence due to the debt situation in pesos, the fall in bonds, the sharp rise in dollars, and the pronounced drop in shares on the Buenos Aires stock market and the papers that are listed on Wall Street.
For economists, last week’s drop in CER bonds woke up more than one giant. Financial analysts and economists analyzed the sharp drop in CER-adjusted Bonds, the spike in country risk and financial dollars, the possibilities of a default in pesos, and the pressures this situation brings to the goals agreed with the IMF. A single action that woke up several sleeping giants at the same time.
In a wheel of high tension in markets, The Central Bank added some US$25 million to reserves on Monday, the largest purchase of foreign currency so far this month; while the financial dollar and the blue operate with strong rises.
The monetary authority comes from buying only US$40 million last week, after energy payments of US$500 million were made.
Source: Ambito
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