The S&P Merval falls and the dollar bonds sink after vote in the Senate

The S&P Merval falls while and the dollar bonds sink while the market Analyze the impact negative that will have in the Actions and Bonds Argentines, the last Senate sessionwhich approved retirement and disability projects with impact on the management of management and fiscal balance, which already had an impact on the Executive power (through the presidential veto) or in the Judicial Branch.

In this way the local selective low 1.8% to 2,031,915,090 basic points. All leading actions operate in red but lead the losses: the financial papers of the hand of Supervielle Group (-2.5%), Galicia Financial Group (-2.4%), and BBVA Bank (-2.2%).

It should be noted that On Thursday the Senate of the Nation approved a bill that proposes to increase retiree and pensioners by 7.2%and raise the income reinforcement bonus from $ 70,000 to $ 110,000. The initiative was sanctioned with 42 affirmative votes, 17 negatives and 3 abstentions.

At the moment, The minimum for retirees and pensioners is $ 309,294, while the maximum is $ 2.081,261. If the 7.2%update is applied, they would go to $ 331,563 and $ 2.231,111 respectively. On the other hand, the ANSES bonus rise that is frozen at $ 70,000 since March 2024, the project approved by the Senate proposes to increase it to $ 110,000.

Within that framework, the Bonds in dollars They also open the day in negative terrain. The biggest casualties are for the Bonar 2041 And its foreign law, the GLobal 2041 that collapse up to 1.2%, followed by close Bonar 2038 with 1.1%.

How the City took the reverse in the Senate

From CEPECthey stood out: “In a week marked by the institutional tension and distancing between the Executive Power and the Senatethe upper house approved a package of measures that they challenge openly the fiscal policy of the national government. With the impulse of a diverse opposition majority, three key laws were sanctioned – 7.2%retirementre recomposition, pension moratorium and emergency in disability – all with broad support and, in some cases, without any negative vote. LA Libertad advances chose to be absent or vote against, evidencing a strategy of not validating an agenda that considers its fiscal discipline objectives “.

In turn, from PPIthey recalled that according to estimates of the Ministry of Economy, this set of initiatives could raise public spending by 2.5% of GDPwhich implies that “committed” the fiscal balance that this government carries as a flag.

They also highlighted that beyond, President Javier Milei said that he will veto them and, if the veto falls, he will go to justice, The Congress could insist with the projects, although it needs two thirds of the votes to overcome the presidential veto. “It should be remembered that last year, when an exceptional increase in retirements was approved that resulted in a veto of the Executive, Congress did not achieve the majority to insist with said project”they detailed.