In the external context, Markets improved after Russian President Vladimir Putin noted there were “certain positive turns” in talks with Ukraine amid rising geopolitical tensions.
In the fixed income segment, sovereign bonds in dollars rose for the third consecutive round, led by Global 2035 (+1.7%); of the Global 2030 (+1.4%); and Bonar 2035 (+1.3%).
“The progress in the agreement with the IMF is promoting portfolio recompositions in (Argentine) bonds, which are trading at lows and with high returns, at a time when fears of a default are recedingsaid an operator.
The new agreement with the IMF, which seeks to be approved before the due date of some 2,800 million dollars on March 22, establishes a grace period of four and a half years and extends disbursement payments to 10 years, therefore that the country will begin to cancel the debt in 2026 and will end in 2034. The implementation of the understanding will require meeting growth goals, lowering inflation and adding reserves to the central bank, among other guidelines.
“After (parliamentary approval remains) the stage of implementation of the ‘macro’ convergence measures that will be challenging and will require broad support from the main forces due to the associated costs”said an operator.
From Research for Trades, meanwhile, they indicated that “The titles recovered some of what was lost in recent weeks, after having tested new minimum values since they were listed on the markets in September 2020 in the midst of the debt restructuring with private bondholders.”
For his part, the argentine country risk prepared by the bank JP.Morgan lost 30 basic points, to 1,796 unitsbefore a minimum of 1,083 points scored in 2020 after the closing of the debt swap and a maximum of 1,991 points scored at the beginning of the week.
S&P Merval and ADRs
In the stock market, meanwhile, the leading stock index S&P Merval fell 1.4% to 89,004 points, by selective profit-taking after a bullish start and gaining 3.5% in the previous session.
In the external context, the markets reacted positively after Russian President Vladimir Putin signaled progress in the negotiations with Ukraine.
Source: Ambito
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