“88.5% of the total fixed terms were made for a period of less than 60 days and only 1.5% were for a period of 6 months to a year”, raises the job. LCG maintains that term deposits could be negatively impacted by an “eventual deepening” of the exchange rate gap. Since October of last year, time deposits are leaving positive rates.
The data indicates thatAs in Treasury Bills, whose maturity horizon does not exceed 3 months, investors in banks are not willing to tolerate long terms eitherfearing a disruptive event.
At the same time that some private analysts begin to express doubts about the ability of the Minister of Economy, Sergio Massa, to sustain the tranquility of the dollar, opposition economists are increasingly making their complaints explicit. This Monday they issued a document in which they state that the debt in dollars would be unpayable, while draw attention to the growth of the debt in pesos. Luciano Laspina, one of the economists who advise Patricia Bullrich, demanded that Massa deal “urgently” with achieving the primary fiscal surplusto send a signal of calm to the markets.
Eugenio Marí, from the Libertad y Progreso Foundation, stated that “the maturity horizon is shrinking in the economy because investors seek to have quick exit options or because they consider that they can change the rules of the game”. “Faced with uncertainty, very short-term options arise, such as funds called money market,” Marí explained to Ámbito.. In this context, he considered that The opposition does not help to generate greater peace of mind because “it is warning about the situation that they are going to leave but it does not say how it intends to resolve it.”
By your side, Javier Marcus, Business Manager of Southern Trust, stated that “investor sentiment is not very optimisticwhich is reflected in the fact that there are not many placements for after 2023”.
Market sources consulted by Ámbito indicate that in recent weeks some doubts have arisen from investors. The announcement of the debt buyback operation with reserves fell badly, to which the latest opposition documents were added, which do not make it clear whether they will respect the debt commitments in case of accessing the government. It is one of the topics for analysis at each meeting.
Source: Ambito
