The sovereign debt in foreign currency operates with volatility in New York. After a busy wheel, Argentine titles go to negative field. Uncertainty prevails.
An Argentine delegation – led by the Minister of Economy, Luis Caputo – travels this Friday to Washington To close the details of the US Treasury aid. It does not happen in any framework, but Argentine officials will find the government closed by the “Shutdown”. Although the local ruling seeks to channel expectations, uncertainty and volatility prevail: after an upward opening, the Bonds in dollars They are dyed red on Wall Street.
The group that will command Luis Caputo It is also made up of the second of the Ministry, José Luis Daza; The Secretary of Finance, Pablo Quirnoand the head of the Central Bank (BCRA), Santiago Bausili. They will try to hurry the negotiation of the coin swap with the US to bring oxygen to a financial and exchange situation that became critical.
“Caputo’s trip generates expectation and I think the result can become very good, but obviously, sometimes market expectations are others and the volatility we are having is the order of the day”he said to the scope, the analyst Leonardo Svirsky.
For now, Sovereign bonds operate with a majority of casualties In Wall Street. The setbacks are up to 0.5%. It occurs after an opening in which everything indicated that Thursday’s rebound would last. But the situation quickly began to reverse.
The same happens with the ADRS of Argentine companies that quote in the New York market. While they quote with disparity, most do so down.
Meanwhile, in the local square, the index S&P Merval of the Buenos Aires stock market goes 0.3%.
Caputo and his delegation travel but what will be in Washington?
Things are not simple in the northern country. He United States Government entered a new Administrative closure After beating the deadline for the president Donald Trump and the Congress They will reach a Financing Agreement Before midnight from October 1.
The immediate background was the closure of 35 days between 2018 and 2019, also under the presidency of Trump, then motivated by a disagreement on immigration.
In addition to operational issues, the issue of “Shutdown” also indirectly involves the country: the management of Donald Trump wants to get from the Obamacare health system, thousands of Americans, something that the Democrats resist, who also They oppose helping a country like Argentina in the midst of internal cuts of such magnitude and symbolism.
The Administration and Budget Officedirected by Russ Voughtordered all agencies to execute plans to apply licenses without salary enjoyment and eventual mass dismissals. According to the White House, the measure is part of Trump’s policy of reduce state size.
The president already promoted a reform to expel 300,000 federal employees Before December and threatened that the closure serves as a platform to advance “irreversible” actions.
Source: Ambito
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