Both global titles in dollars and those linked to Indexed Units and in pesos fell.
After the increase in dollar bonds due to the improvement in the credit rating for Uruguay by the agency Standard & Poor’s (S&P)there was a general drop in all Uruguayan bonds in recent days in line with the behavior of other global assets after the new hike announced last week by the United States Federal Reserve (Fed).
The global bonds sovereign debt in dollars all had a general drop, several reaching up to 1.49%. The only ones that had a small rise were the 2024 titles with 0.05%, while those of 2025 remained the same. For their part, the 2027 and 2031 bonds had a fall of 0.49% and 0.30% respectively.
While the bonds for 2033 and 2036 had a negative variation of 0.70% and 0.59%, while the Bonds Indexed to Climate Indicators (BIIC) to 2034, a variation of -0.38%. The ones that suffered the most from the drop are the 2045, 2050 and 2055 bonds that had decreases of 1.33%, 1.36% and 1.49%, respectively.
As for the Indexed Units bonuses, the only one that did not suffer modifications was that of 2028. That of 2027 had a drop of 0.27%, that of 2030 of 0.24%, that of 2037 a negative variation of 0.12%. The one with the greatest variation was that of 2040 with 0.57%. What refers to the bonds in Uruguayan pesos, that of 2028 had a fall of 0.48%, while the bond of 2031 of 0.63%.
The behavior of sovereign bonds in recent days ended the positive streak after Standard & Poor’s historic rating. The markets responded positively to the increase in the credit rating by one of the most important rating agencies in the world, which considered that the fiscal strength of the country is worthy of the BBB+ ratingtwo notches above the investment grade minimum.
Source: Ambito
