The ADRs earn up to 2% on Wall Street and revive the bonds in dollars

The Buenos Aires bag operates up to Wednesday, July 2, while the Bonds in dollars go up for the first time in the week, A few days after the payment of coupons. Within that framework, the Argentine actions that quote in Wall Street advance up 1.9%.

In the local market, the leading panel increases 1.3% until 2,058,173.81 pointswith an ascent of up to the 3% of Passenerfollowed by South gas transporter (+23%), Silver Commercial Society (+23%), North Gas Transporter (+2.1%) and Bank of Securities (+2.1%).

In Wall Streetmeanwhile, Argentine companies climb up to 1.9%, With profits led by Pampa Energy, South Gas Transporter (+1.4%), Black Loma (+0.9%) e YPF (+0.8%).

Investors continue to weigh the adverse ruling of an American judge puts in the mat the future of the YPF oil company in the middle of a judicial litigation that will be appealed by the Argentine government, which creates a waiting beat among investors.

The United States justice ordered the country to deliver its 51% participation in YPF to partially comply with a judicial sentence for 16,100 million dollars following the expropriation of the company carried out more than a decade ago. On the immediate stage, the exchange rate It presents challenges that will require attention.

“The typical seasonality of the winter season, added to the payment of bonuses and the electoral context, could generate volatility over the exchange market,” said José Maria Segura, PWC Argentina economist. “However, these effects could be mitigated with a restrictive monetary policy and a fiscal policy that contributes to that objective,” he said.

“At the end of the high export season – favorable to the exchange market – new publications accentuate concerns about volatility of the exchange rate in the coming weeks“said Javier Casabal of the Adcap firm.

Bonds and Risk Country

In the fixed income segment, the Bonds in dollars They operate with a majority of advances, up to 1.8%, headed by him Global 2046 and the Global 2029 (+0.6%), while the casualties are led by the Global 2041 (-0.2%).

The country risk closed on Tuesday below 700 units, around 699 points.

After undermining the bonds in pesos, the bank JP Morgan He recommended increasing his position in Argentine bonds in dollars.

In a recent report, the entity assured that within a set of emerging countries whose Valuations in sovereign bonds in dollars They are considered “attractive.” According to the bank, these assets have More margin to recover that to deteriorate, provided that The risk of global recession is maintained under control.