After the scandal initiated on Friday, for analysts it seems to have passed the tremor and most attention is now concentrated on Javier Milei’s trip to the US and the meeting with the head of the IMF.
The $ LIBRA case already has several chapters in a very short term. The first on Friday afternoon, when President Javier Milei promoted the digital asset in his “X” account, And with the passing of the hours the price inflated and then collapsed, which resulted in strong accusations of being an operation, “Rug Pull”. A few retired with US $ 90 millionmore than 80% of circulating money. This followed A controversial interview by Milei with Jonatan Vialeand strong statements by Token creators about the relationship with the government.
Given this situation, Experts expected market reaction on Monday, and its impact on The actions and bonds. Without the reference of Wall Street, which did not operate on a holiday in the US (Presidents Day), The leading Byma index on Monday fell 5.6% to 2,254,188 unitsalthough measured in dollars collapsed 6.6% to 1,866 points, which represented the greatest daily decline in the Milei era. The actions of the leading panel They collapsed to almost 8.5%, while the Bonds in dollars They yielded up to 3.3%.
Despite this first reaction, on Tuesday, with the US reference, Investor humor changed. For Soledad López, Development Director of Rava, “What was observed on Tuesday at the ADRs, leaves the feeling that outside they are not giving the importance to the news that moved to the local market on Monday”. Beyond volatility, Argentine Companies Papers closed with a majority of increases in the New York Stock Exchange. This moved to the S&P Merval that bounced 6.1% to 2,391,724.77 points, while, measured in dollars, revealed 5.7% to 1,967.35 points. The bondsmeanwhile, they did not have the same fate and They fell up to 2%, while The country risk approached 700 points.
Actions and bonds: how the investment humor follows after the $ Libra scandal
“From now on that we continue with the logic of the usual market, that is, the fundamental ones, out of what happened with the $ Libra cryptocurrency, We can say that, for the moment, The tremor passedand the market continues with normal dynamics, “he told SCOPE, MATOO REMONCHINI, HEAD OF REESARCH OF INVIU. This look It is shared by other analysts.
A report that circulated through the City At this time, he explains that the “Economic sustainability is over political noise.” “Investors do not get off the commitment to Argentina and gave Milei a vote of confidence in the middle of the crisis. In Wall Street they are still excited about the signals of the economy and did not impact the $ LIBRA case too much. Now results are waiting for the president’s trip and Luis Caputo to the United States, which begins today and could have important news “they detail.
It should be noted that, in the middle of the tensions for the theme $ Libra, The market is closely watching the trip that the president undertakes to the US -will assist the CPAC conference -where he will meet with the director of the IMF, Kristalina Georgieva. “Caputo confirmed that the agreement with the IMF is advanced and remains to be defined, leaving potential interventions in the exchange rate under a predetermined scheme,” they stressed as important, on this day, since Max Capital.
For its part, from PPIco -indict that The feeling “Bearish” ended even though the correction could continue for other causes. This was explained: “The question that was resonating was yes, on Tuesday, foreign investors were going to validate that feeling. However, yesterday with the Nyse operating normally, the answer was totally opposite. The share index jumped 6.8% up to US $ 1,975, being only 1% below the closure of Friday. This represented a clear sign that the Bearish feeling that the locals suffered did not infect outside. “
Even so, they stressed that Merval remains on correction field and accumulates setbacks of 17.3% since the last maximum (US $ 2,387 on January 9) and 9.3% so far in February.
Finally, from Outlierthey agreed that the city is evaluated more the results of Milei’s trip to the US than the $ Libra effect that seems to have exhausted its impact. “It would seem, consequently, that The market focuses much more on the agreement with the IMF for which the Milei Administration and several external banks again advanced positive visions during Monday and the previous wheel of yesterday“. For the elaborators of this report, the result of Tuesday’s wheel revealed that “The market focused on positive novelties with respect to an upcoming agreement with the IMF and that more than compensated in many cases of $ Libra.”
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.
