In this framework, a large part of the titles in hard currency ended with double-digit increases, such as the Bonar 2035 (+15.2%); Bonar 2029 (+14.6%); Global 2030 (+13.5%); Global 2035 (+13.4%); Bonar 2030 (+13.1%); Global 2038 (+11.2%); and Global 2029 (+10%). These public securities, which came onto the market after the 2020 debt swap, had already advanced almost 9% in the previous round.
Before Massa’s landing in the Ministry of Economy became known, the analyst Gustavo Ber explained: “The expectation for changes in the cabinet, with a focus on economic management, continues to fuel tactical bets on domestic assets before operators seeking anticipate a possible improvement in the expectations of economic agents, an essential catalyst to aspire to a recovery of punished valuations”.
In this context of euphoria, the country risk fell 5% to 2,538 basis points, the lowest since the beginning of July and compared to an intraday historical maximum level of 2,976 units recorded during this same week.
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In the local stock market, the leading stock index S&P Merval of the Buenos Aires stock market improved by 0.8%, to 127,400 points, after soaring in the first deals and reaching an intra-hour historical maximum level in pesos of 130,650.78 points.
In turn, the leading panel accumulates a climb close to 20% in the last six business sessions.
In the variable income segment, the Argentine ADRs listed on the NYSE closed the day with the majority of positive results, led by Edenor (20.1%); South Gas Carrier (13.3%); Galicia Financial Group (8.3%); Macro Bank (8%); and Loma Negra (7.8%).
Meanwhile, the only declines corresponded to Tenaris papers (-0.6%); America Corporation (-0.6%); and Take off (-0.3%).
international context
At the international level, the main US indices ended the day in a positive way, exceeding 1% in all three cases.
The Dow Jones Industrial Average closed at 1.03%, the S&P500 at 1.21%, and the Nasdaq index at 1.08%. The best of the Dow Jones went to Nike (4.1%), Honeywell (3.7%), Microsoft (2.9%), Walmart (2.5%) and Cisco (2.2%).
Technology stocks and retailers, restaurant chains and other companies that rely on direct consumer spending helped boost the S&P 500.
Honeywell climbed 3.7%, Microsoft rose 2.9%, Target gained 3.1% and McDonald’s added 1.8%.
The 2-year Treasury note yield, which tends to move with Fed expectations, fell to 2.87% from 2.98% on Wednesday night.
The yield on the 10-year Bond, which influences mortgage rates, fell to 2.68% from 2.74%.
In the S&P 500, the rises of Constellation Energy (16.3%), ETSY (9.9%), AES (9.5%), Rollins and Equinix (9.1%) stood out.
The most important increases in the Nasdaq were recorded in Align (7.5%), Old Dominion (7.2%), Autodesk and Ansys (4.3%).
Source: Ambito
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