The Sovereign bonds in dollars bounced strongly this Tuesdayafter what was the president’s speech Javier Milei in the presentation of the 2026 budget. Meanwhile, the ADRs climbed up to 5.1% in Wall Street And the actions advanced in the Buenos Aires Stock Exchange.
It is worth remembering that the titles came from a day for oblivion: With falls of up to 6% and the risk country measured by JP Morgan that was located at 1,231 basic points (PB) in the middle of a strong exchange tensionwhich implies a jump of 8% (91 PB) compared to the previous registration.
In that context, the titles climbed into full up to 6.6% of the hand of the Bonar 2028; followed by him Global 2035 (+5.8%); and the Bonar 2035 (+5.3%). In turn, bonds adjusted by reference stabilization coefficient (Cer) They closed with increases of up to 2.4%.
Thus, the market takes a slight respite after strong descents, although they persist Doubts about the payment of bulky maturities in foreign currency. In this regard, IEB group salts, Nicolás Cappellahe indicated that the bonds finished the wheel “enough makers”, which suggests that “the rebound could continue this Wednesday.”
Between September and January The National Administration faces debt maturities with dollars with private and multilateral organizations for US $ 8.1 billionof which US $ 3,800 million correspond to the payments of global and bonares in January, US $ 3,100 million to multilateral organizations YU $ S1.200 million to the Bopreal.
“The market received a moderate and flexible tone by the government”
For their part, the ADRs scored all the rises and climbed up to 5.1% headed by South gas transporter; Pampa Energy (+4.3%); YPF (+3.8%); Galicia Financial Group (+3.7%). Within that framework, the S&P Merval It also closed upwards, rose 2.3% to 1,788,268.73 points, while its counterpart in dollars did it 3.5% to 1,206.26 points.
The CEO of Insider Finance, Pablo Lazzatihe pointed out that, after the president’s speech, The market received “a moderate and flexible tone” by the government. “The speech that had been maintained did not vary in course, but in focus; this time he insisted on the zero deficit as a lighthouse of the economy,” he added.
The specialist also remarked that “A less aggressive tone was noticed and proposing to promote agreements between national government, provinces and companies”which gives space at the beginning of the discussion for the labor and fiscal laws demanded by the private sector.
From Sailing Investments They stressed that the key variable for the coming weeks remains The result of the October legislative elections and the High probability that the Federal Reserve (FED) initiate a rate cut cycle in the US.
As for investment options, the company indicates that “Even with a more moderate speech by Milei, prudence remains the best advice”in a context where alternative assets such as gold and silver, together with international actions, “would be favored by an environment of lower interest rates.”
On the previous day, Milei presented the budget, 2026, where the estimates by the end of 2025 for the dollarsince the government provides for a value of $ 1,325 For next December, when the price today is $ 1,467.
By 2026, the expected wholesale exchange rate is $ 1,423while the official forecast for the variation of the Consumer Price Index (CPI) is 10.1%. In addition, a Real Increase in the Internal Gross Product (GDP) of 5%.
Source: Ambito
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