Of the six titles that had been placed on the previous day, only three were made available this Wednesday. These are fixed-rate bills (LEDes), with maturities on July 29, August 16 and August 31, 2022, respectively.
The rates of these Ledes were the same as those of the first round. The shortest grants a nominal annual yield of 47.16%, while those of August offer returns of 47.5% and 48.53%, respectively.
In effective terms, the rates are between 59% and 61%. In this way, they position themselves above the almost 55% that Leliqs now yield. It is worth noting that one of the central objectives of Economy is to increase the weight of financing in local currency of the Treasury and reduce the Central Bank’s liabilities.
Of the total financing obtained between Tuesday and Wednesday, 48% corresponded to instruments for 2022, 41% for 2024 and the remaining 11% for 2026. Likewise, 52% of the amount awarded was in instruments adjusted for inflation (Boncer), 39% at a fixed rate (Ledes) and 9% at a variable rate (Lepase).
This week’s maturities were just $15,018 million, an amount that was widely exceeded by what was achieved in the tender. Thus, the net financing for the month is $185,343 million. Next week the last tender of the month will be held to cover a large maturity of $350,000 million.
Source: Ambito
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