The operators reacted optimistically after the announcement that Argentina and the US agreed to a US $ 20,000 million swap, however at the end of the day the euphoria dropped despite the rumor of confirmation of purchase of dollars by the treasure.
The market celebrated the strong support that the US government confirmed for the management of Javier Mileiwith a US $ 20,000 million swap and possible bond repur. The actions shot until in the local square and in Wall Streetwhile the country risk It collapsed below 1,000 basic points. The dollar, in all its versions, fell to strong income of dollars that allowed the treasure to buy reservations.
The dollar bonds recorded increases of up to 6.6%, driven by the longest titles such as the Global 2038 (+6.7%), the Global 2046 (+6.6%) and the Bonar 2038 (+5.3%). Although the country risk measured by JP Morgan He came to descend in the course of the wheel to the 800 -point area, the euphoria was moderated and the indicator closed around the 900 basic points.
“We consider appropriate Maintain positions in sovereign bonds and Argentine actions. If a favorable political result is confirmed in October – a loss that we see with high probability – a significant rally could be generated towards the end of the year. Argentina continues to lag in front of other emerging markets and, in this context, the support of the United States together with a milei strengthened to advance in the approval of reforms, configure a potentially very positive scenario for a marked recovery of local assets in the short term, “he said Matías Waitzer, partner in AT Investments.
“Besent’s post It clears the uncertainty about the liquidity difficulties generated by the economic program so far – the announcement that the treasure would be willing to buy directly sovereign debt strongly increases the chances of the country’s risk falling to the point that the government can go out to issue debt in early 2026, “he contributed Federico Filippini, Chief Economist of ADCAP Grupo Financiero.
On the other hand, the Bopreal bonds closed the disparate day, with rises of up to 0.8% and falls of up to 3.2% – case BPA7D – while bonds adjusted by CER advanced up to 6.6% this day. Lecaps also closed a good day, with rises of up to 4.6%.
S & P Merval and Adrs
On the other hand, S&P Merval advanced 1.5% to 1,843,318.56 points. This is its third consecutive rise, after the advance of the US Treasury that slid on Monday. On the other hand, Merval in dollars rose 3.3% to 1,324.92 points.
The most outstanding actions were Transener (13.5%), Metrogas (8.1%), Central Puerto (7.1%), Byma (4.1%). Meanwhile, BBVA Bank (-1.0%), YPF (-0.9%) and Loma Negra (-0.7%) fell.
The Argentine papers that are quoted on Wall Street came to register rises of up to 14%at the beginning of the day, but finally dropped the euphoria, and closed with advances of up to 5%led by IRSA, Grupo Financiero Galicia (3.4%), Supervielle Group (3.4%) and Banco Macro (3%). The only fall was recorded by Tenaris at -1.7%.
Source: Ambito
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