Bonds in dollars fell for the second consecutive day and the country risk touched 1,100 basis points, although Argentine stocks rose sharply on Wall Streetdriven by energy sector profits. It happened a day after the Government reported another fiscal surplus and while money laundering is consolidated.
On a bad day for emerging debt, the dollar bonds They lost up to 3%, with losses led by the Global 2046he Bonar 2041 (-2.4%) and the Global 2035 (-2.2%). Meanwhile, the country risk rose 4.5% to 1,099 basis points.
The falls in sovereign securities occurred on a day in which it was known that JP Morgan, the largest investment bank in the United States, He presented a very positive perspective on Argentina and recommended investing in its bonds.
The entity thus changed its vision of the country, suggested increase exposure to its bonds and warned that there is a “window of opportunity” for Javier Milei to lift the stocks “in the next two quarters.”
The recommendation of the US bank comes days after other international financial entities expressed their change of vision regarding Argentina. In his report titled “Argentina: damn torpedoes, at full speed”, The Wall Street giant highlighted that markets reacted positively to the Milei administration’s stabilization efforts.
As they explained, “bond prices increased almost 16 points to settle at multi-year highs, with rate differentials (spreads) compressing to more than 600 basis points so far this year.”
On the other hand, Argentina registered in September a positive primary result of $816,447 million (about US$842 million) and a favorable balance in the financial sector for $466,631 million, to accumulate in nine months of the year a primary surplus of approximately 1.7% of GDP and a financial surplus of almost 0.4%, according to official data.
S&P Merval and ADRs
For his part, the S&P Merval advanced 1.4% to 1,801,603 basis points where the shares of Pampa Energy (+5.7%), Transener (+3.1%), and Edenor (+3%).
For its part, the Argentine papers in Wall Street they closed with gains of up to almost 8%, led by Despegar (+7.4%); Pampa Energía (+5.4%); and Vista Energy (+4.3%).
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.
