“The local index is consolidating above 400 points measured in dollars,” said the clearing and settlement agent Neix, adding that “the Cedears continue to be an option to place excess pesos, adding exposure to the international market.”
Argentina must pay a due date for some US$2.9 billion to the IMF and another US$2.0 billion to the Paris Club in March, when the central bank (BCRA) does not have the necessary liquid reserves, so analysts expect a soon agreement with the organism. “Investors are eyeing the IMF deal negotiations, the Russia-Ukraine conflict and the performance of the US treasury rate,” Research for Trades said.
He added that “despite the positive outlook for an agreement with the IMF, macroeconomic stability is necessary for these financial instruments to begin to show a positive trend in a sustainable manner. Meanwhile, volatility will continue.”
The United States and its allies unveiled more sanctions against Russia over its recognition of two breakaway zones in eastern Ukraine, while making it clear that tougher measures were reserved in the event of a full-scale invasion by Moscow.
As for Argentine shares on Wall Street, the 6% rise in Mercado Libre stands out.
Bonds and Country Risk
In the fixed income segment, the dollar bonds they operate mixed this day. The drops are led by the Global 2035 (-1.5%) followed by the Bonar 2038 (-1.2%) while the increases correspond to the Bonar 2035 (1.3%) and Bonar 2041 (0.3%).
“The support of the bonds continues to be the close agreement with the IMF and a calmer domestic front from the exchange rate, with a strong decline in the implicit dollars,” said the StoneX brokerage.
For its part, the country risk measured by the bank J.P. Morgan it rises four units to 1,729 basis points, compared to a minimum level of 1,083 points noted in September 2020 after the closing of a large external debt swap with the private sector.
Source: Ambito
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