The leading BYMA panel goes back within the framework of electoral uncertainty and given the strong monetary pressure of the government to stop the exchange rate.
The Argentine shares operate with increases this Friday on Wall Street, while the S&P Merval Avanza, while the dollar bonds operate mixedcompared to the maximum caution investment in the last day before the legislative elections in the Province of Buenos Aires. The country risk reached 901 points, its highest level in almost 5 months.
He Leading BYMA panel yields 0.9% to 1,973,050,24 units, with casualties led by the actions of BBVA Banco (-3.8%); Aluar (-3.6%); and Central Puerto (-2.1%).
In Wall Street, meanwhile, the ADRS They quote most setbacks, led by BBVA Bank (-3.7%); Edenor (-2.8%); and Cresud (-2.5%). In constras, IRSA advances 1.9% and Telecom It does 0.4%.
“The closer we are from the elections in the province of Buenos Aires, It is logical that volatility increases for local assets, especially for Variable Income“They warned from Personal Investor Portfolio (PPI).
From SBS group They pointed out that on this last day prior to the legislative elections in the province of Buenos Aires, “the eye goes through the dynamics of the main macro variables”, with the novelty known yesterday, that Treasury deposits in dollars in the BCRA yielded US $ 238 million on the announcement of its participation in the Mulc.
Also, taking into account the variation of deposits in pesos and using the exchange rate of that day, They estimated that Tuesday’s intervention was around US $ 200 million. “During yesterday, several market sources pointed to another day of high participation of the Treasury in the Mulc via sales, something that will have to officially corroborate with the BCRA series in a few days,” they added.
Bonds and Risk Country
On the other hand, dollars in dollars operate mixed, with increases of up to 1.1% and falls up to 0.7%as is the case of Global 2038 and the Global 2029respectively.
The last data of country risk (EMBI, prepared by JP Morgan) of September 4 showed a value of 901 basic points and threw a 0.6% setback with respect to the previous registration, to mark a new maximum from April 8.
This country risk level above 900 basic points could be an attractive medium -term entry point to reach better political signals in the local arena, according to the economist Gustavo Ber.
Source: Ambito
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