On the first day of operations after the electoral defeat of Freedom Avanza (lla) in the province at the hands of Fueria Patria, the market reacted very pessimistic and the rates in pesos rose strongly.
In the opening of marketthis Monday, September 8, the Stock sacks They touched 70% TNA and then moderate up to 56%. This happened in parallel that there is a strong drop in shares and bonds, and an advance of the minor dollar as a first impact on The defeat of Libertad advances (LLA), at the hands of the Patria Force for almost 14% in the legislative elections in the province of Buenos Aires.
As to the rates of the Lecaps They show a descending curve in the short term, which then flattens and begins to roughly rebound in the longest sections. The monthly effective rates (TEM) range from 6.4% (S12S5, expiration in December 2025) to 3.66% (T15E7, expiration January 2027). The annual nominal rate (TNA) falls from 74.2% (shorter term) to 58.82% (longer term).
“In repo very few operations, they take pesos at 60%, place 75%”expressed a market operator on the performance of this first wheel.
Within that framework, the Argentine actions that quote in Wall Street record strong losses of up to 20% in the opening of the market. The biggest decline corresponds to Supervielle Group (-22%), Galicia Financial Group (-20.6%), South Gas Transporter (-20%), BBVA (-20%), Macro Bank (-19%), among others. Meanwhile, the Merval in pesos sinks 12.9% to 1,738,996.21 points, while in dollars yields 16% to 1,204 points.
As for the dollar, the retailer shot hard at the opening although he later moderated on the future of the morning. At the beginning, Banco Galicia, Santander and BBVA To name a few they opened to $ 1,460, then they came to touch the $ 1,470, but then moderated and lost up to $ 20 from the opening.
In turn, the wholesalerwhich is a reference in the market, opened to $ 1,450, 6.2% more than the last business day last week. For its part, the Blue dollar It operates $ 1,450 in the City Porteña caves. Financially, the dollar counted with liquidation (CCL) Open this Monday’s wheel to $ 1,447.17, a 4.1% jump against Friday. Similarly, the MEP dollar rises 4.7% to $ 1,448.94. Meanwhile, the crypto dollar moves at $ 1,440.74, according to Bitso.
Source: Ambito
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