In the first round of the auction, carried out on Tuesday, the Treasury had raised $474.507 million. 80% of the awarded corresponded to instruments indexed to inflation, in a context in which an average price increase of more than 5% is expected for March. The most popular titles were the CER (Lecer) bills maturing in January and April 2023, respectively.
Meanwhile, almost all of the debt placed in the second round of this Wednesday was distributed between the Lecer from January 2023 and a fixed rate letter (Ledes) to July 2022. In both stages, the annual nominal rate (TNA ) validated by Economy for this last letter was 47.07%, equivalent to more than 58% in effective terms.
The yield on Treasury instruments currently exceeds the returns provided by the Central Bank’s Leliqs, which are close to 55% of the Effective Annual Rate (TEA). However, expected annual inflation is getting closer to 60%, so positive real rates are not yet guaranteed.
Accumulated net financing in the first quarter of 2022 totaled $640,367 million, with placements for a total of $1.91 trillion and maturities for $1.27 trillion. The percentage of refinancing for the year to date rose to 150% in this wheel.
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.
