Argentine securities denominated in US currency advanced up to 1.7%, with the leadership of Bonar 2030. Other solid promotions were recorded by the Overall 2029 (+0.9%); Global 2035 (+0.7%); and the Bonar 2035 (+0.7%).
A) Yes, the Argentine country risk yielded 1.4%, to 1,721 units, a new minimum in more than a month, compared to the 1,083 points registered in 2020 after a millionaire restructuring of private debt and a historical maximum of 1,991 units recorded at the beginning of this month. In 4 consecutive days, it registers a decrease of 6.4% or 117 points.
Likewise, operators were cautious given the complex scenario to comply with what was agreed with the IMF, which basically extends maturities until 2034, with quarterly macroeconomic controls.
The reserves of the Central Bank (BCRA) climbed to just over 43.2 billion dollars on Friday, from almost 37 billion previously accounted for, due to the disbursement of the IMF as support for the agreement reached between the parties.
In the meantime, the BCRA would raise its benchmark rate by at least 150 basis points in April to a range between 46% and 48% nominal annual rate (TNA) due to the high rate maintained by domestic inflation, according to a Reuters poll of financial market traders and analysts.
The market was also coupled with global optimism for signs of progress in the talks between Russia and Ukraine to end the war that has lasted more than a month.
Traders said that the difference that investors are willing to pay is evident in the comparison between a public security at a fixed rate and another that is adjusted for inflation (CER) with similar maturities. These linked to the consumer price index (CPI) meet the greatest demand, although the parities register ‘default’ levels despite the giant private restructuring of 2020. Inflation is projected to be up to almost 60% by 2022.
In the midst of selectivity and business prudence, the S&P Merval index of the Buenos Aires stock market lost 0.5%, to 91,214.42 points, against a decline of 1.45% the day before, affected by the drop in the CCL dollar, and in contrast to the performance of global markets.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
