In recent weeks, Stock sacks They charged an unusual prominence in the financial market. After the elimination of Lefi On the part of the Central Bank, many operators and investors began to use the rate of the cion as a New short -term informal referencein a context of high volatility and recomposition of expectations.
What is a stock market bond
The stockcour It is an operation of capital market which works similar to a guaranteed loan. In this instrument, a liquidity investor provides money to another that needs funds, In exchange for an interest rate and a guarantee in securities.
It is carried out through the market – ahabitually byma (Argentine stock markets and markets) – and has very short deadlines: from 1 to 30 daysalthough the most operated section is usually the 1 to 7 days. Unlike a fixed bank term, the cion They are not guaranteed by depositsbut for financial assets that support the operation. It can be invested through the Alycs.
It is a clean, safe and widely used operation by institutional investors, stock market companies and companiesalthough it is also available for natural persons with closing accounts.
Liquidity thermometer
The Caution rate It reflects how much liquidity there is in the system and how much they are willing to pay those who need urgent money. If it goes up, it is a sign that there is less availability of pesos or greater demand for financing, which is what happened in the last days.
In the last wheels, the bond rate exceeded the 60% annual nominal in short deadlinespushed by uncertainty about real yields, tendor tenders and pesos output of the remunerated accounts of the BCRA.
What changes with the disappearance of the Lefi?
Until recently, Lefi They fulfilled a role similar to that of the cion: they offered an instrument of low risk, short term and foreseeable yields. When they were eliminated, many common investment funds, Alycs and companies migrated part of their idle weights to Cajución, dynaming the volume operated and giving centrality as a rate reference.
In addition, in a market without explicit reference of the BCRA – after the replacement of the rates scheme by a freer system – the caution It acts de facto as a “price of silver”at least for the most immediate deadlines.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
