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Tuesday, December 6, 2022

The country-risk fell 2.1% and closed at 2,427 points (bonds operated on the rise)

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Among the shares that rose the most were those of YPF (5.4%), Edenor (4.1%) and Transportadora de Gas del Sur (4.1%). The decreases, meanwhile, were led by Ternium (3%) and Holcim (2.9%).

On Wall Street, the shares of Argentine firms closed the day with the majority of positive results, led by YPF (5.4%), Cresud (5.3%) and Pampa Energía (5%). The most important losses were for Globant (3.9%), Tenaris (1.6%) and Mercadolibre (1.6%).

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“Investors only make short-term tactical bets on well-liquid stocks, as economic doubts in the latter part of the year weigh on decision-making,” a stock trader said.

In the United States, the vice-president of the Fed, Lael Brainard, slipped in an interview that it would be appropriate for the entity to start slowing down the pace of rate hikes “soon”. Despite the dovish cut message, the S&P 500 alternated up and down to finally close down 0.9%, while the 10-year bond rate rose 7 bp to 3.88%.

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In the fixed income market, bonds in dollars closed widespread increases, which were led by the Global 2029 (6.6%) and the Global 2038 (5.2%). Meanwhile, the country-risk measured by the JP Morgan bank fell 2.1% to 2,427 points.

On Wall Street, sovereign bonds continued to be in strong demand, rising about 60 cents on average.

Source: Ambito

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