S&P Merval extends losses for the fourth day in a row and country risk remains firm above 1,300 points

The Buenos Aires stock market suffers this Thursday, September 26 its fifth consecutive fallwhich represents its the longest bearish streak since May, while the country risk fails to break through the 1,300 point mark, while the city adjusts to an extension of the money laundering and prior to the last tender of debt in pesos in September.

The S&P Merval index yields a 0.9% and has accumulated a 6.2% decline in the last five trading days. In this sense, the shares of the leading panel that have fallen the most are those of Commercial Society of the Silver (-3.6%); Southern Gas Transporter (-2.6%); and Central Puerto (-2.4%).

For their part, Argentine stocks listed on Wall Street are trading in a discordant manner. Vista Energy’s assets are leading the declines, with a 6.8% drop. The negative podium is completed by the shares of Southern Gas Transporter (-3%), and of Supervielle Group (-23%).

Meanwhile, the papers that rose the most on the day are those of Adecoagro (+4.3%); America Corporation (+3.5%); and Ternium (+2.9%).

“He The market has everything to continue rising, but there are technical resistances “which suddenly slow down the rise, but in the background the prices have room to remain firm,” commented an analyst from the private sector of Banco Macro.

Money laundering adds dollar deposits from the private sector, which helps the Central Bank (BCRA) from an accounting point of view, although it is still far from the goal agreed with the IMF.

Bonds and country risk

In this context, the Sovereign bonds in dollars operate with a majority of losses of up to 1.1%led by the Global 2041, followed by the Bonar 2029 (-1%) and the Bonar 2038 (-0.8%). The only ones that are rising are the Global 2046 (+1%), the Global 2035 (+0.6%) and the Global 2029 (+0.1%).

Indeed, the country risk drops four units to 1,300 basis points.

He The Ministry of Economy is carrying out a tender today of 11 National Treasury instruments to meet maturities for 7.21 trillion pesos (about 7.448 billion dollars).

All available securities will be denominated in pesos, eight in capitalizable letters (‘Lecap’) with maturities between next October and September 2025, two other inflation-adjusted bonds (‘Boncer’) with zero coupon amortizable on December 15, 2025 and 2026, and a Treasury bond maturing in August 2025 (‘Bonte’).

“We consider that the focus (of the tender) will be both at the validated rate level -both with respect to the last tender and with respect to the secondary market curve-, in a tender whose maturities, like the previous one this month, are substantially higher than in previous tenders,” said the SBS Group.

This afternoon, the poverty data measured by INDEC will be released.