The ADRs and bonds went down the third wheel and the country risk exceeded 1,100 points

Among the ADRS, Port Central leads the casualties (-4.6%), followed by YPF (-2.7%); Edenor (-2.6%); Pampa Energy (-2.4%); and South gas transporterwith -1.5%. In turn, the S&P Merval It rose 0.1% to 1,793,184.57 points, but its counterpart in dollars retreated 1.6% to 1,198.60 points. He dollar counted with liquidation (CCL) rose 1.8% to $ 1,496.06.

The actions in the local stock market closed with a majority of increases, led by Aluar (+4.1%), Ternium (+3.2%), Cresud (+2.8%). On the other hand, Northern Gas Transporter 2% fell Port Central He did 2.9%.

Last Friday, The Central Bank (BCRA) restored the cross restriction for individuals, and blocked access to the MEP/CCL for 90 days when using the use the Official Changes. Thus, who bought dollars in the official market must wait at least 90 days before being able to acquire negotiable assets in dollars in local markets.

From Max Capital They stressed that, until now, individuals could arbitrate between both markets buying dollars at the official exchange rate, selling them in financial dollars through a bonus and then using those weights to return to the official market, in a cycle that allowed them to take advantage of the exchange difference and reduce the gap.

In this regard, the director of Investment Profession, Rafael Di Giornohe said Scope that Volatility persists in the market from the “pre -election mode” already measure that it is known for sure what is the help for the Argentina announced by the American Treasury.

Regarding the restriction to financial dollars, he said that with her, obviously, The government wants to buy cheap dollars at the official exchange rate and “do not want people to get arbitrations”. “In that context, the measure seems logical”the expert slipped in view of the situation and existing restrictions.

Bonds and Risk Country

Meanwhile, the Sovereign bonds in dollars They lost up to 3.4% hand in the Global 2035followed by Bonar 2038 (-3.1%), the Bonar 2041 (-2.9%) and the Bonar 2030 (-2.7%). A countermarket, the Global 2046 won 3.4%.

The salts trader of Stock market, Leonardo Svirkyhe indicated that after the strong recovery they had last week, the market is “quite heavy”, and understands that “The somewhat more open gaps are doing some noise” in the contributions.

For his part, Di Giorno said that “What is going to prevail to see the price of the bonds is to know how much the treasure is buying”since if he made “very strong dollar reserves” purchases, a priori, the market would calm down.

Likewise, market sources stressed that electoral uncertainty weighed in the fall of Argentine titles and that there is pessimism about local assets “despite the assurances” that the government tries to show in recent days.

This Monday, the Torcuato Di Tella University He announced a collapse of 8.2% in his indicator of confidence in the government with respect to August, which measures the performance of the administration of Javier Milei. Against last year, the setback is 10%.

The last estimate of country risk shows a value of 1,124 basic points (PB). The economist Gustavo Ber He affirmed that the economic indicator is already located at that level “Waiting for possible financial operations that could contribute to clear next maturities and thus reduce country risk to rollover levels”.

Last week, sovereign bonds in dollars presented generalized advances in prices. Those under foreign legislation rose +18.6% on average, while titles under local law marked an even greater rise, of +22.2%, he said Bridge.