The Argentine bonds are trading with an upward trend this Wednesday, September 25 on the New York Stock Exchange and are marking increases of up to 1.04%, led by the GD35. The GD41 is also up 0.91% and the GD38 is up 0.82%, completing the podium. Thus, the country risk drops 27 points on the day and breaks 1,300 for the first time in four months. It is located at 1,276 units.
“Country risk is being pushed downwards by bonds, which are rising because a better fiscal review is expected for Argentina in the short term and because Argentina will meet its payment obligations for next year,” he said. Scope, Eric Paniagua, analyst at Epyca Consultants.
ADRs down on Wall Street
Meanwhile, The stocks of Argentine companies abroad are trading lower on Wall Streetmainly those of banks, and this is due to the fact that financial exchange rates are falling, especially the Contado Con Liquidación (CCL) rate, which causes the value of local assets to fall.
“They are already four days down and the behavior of all the banks is almost the same. For me, there is a profit taking (they are coming with a solid upward trend), the main US indices are at highs and I also don’t know if Milei’s speech at the United Nations (UN) was well received,” he says. Leandro Monnittola, financial analyst.
BBVA lost 3.77%, followed by Grupo Supervielle, which lost 2.84%, and Bioceres, which fell 2.71%. This also had an impact on the shares of the local market.
The S&P Merval falls
So, The shares of the leading panel on the Buenos Aires stock exchange, for their part, are trading down, with falls of up to 3.11%. Banco BBVA is leading the decline, followed by Banco Macro (-3.06%) and Supervielle (-2.38%). The S&P Merval index is down 1.09%, driven mainly by bank stocks, which are the biggest losers on the day.
This happens on a day when Two key figures for the US economy will be released: the number of new home sales for August, which will be published on Wednesday morning, and the weekly unemployment claims.which will be released on Thursday.
The big question for investors this week is whether a new batch of data supports the Fed chair’s claim, Jerome Powellthat the US economy remains solid. The reading of the Second quarter GDP to be published on Thursday will help test that assertion.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
