Purchases continued to be led by shares in the energy sector, while Argentina is negotiating gas supplies for the winter with its neighbors Chile and Brazil.
For their part, the main Wall Street indices opened lower given the prospect of new sanctions on Russia, a geopolitical issue that keeps investors on edge.
On Monday, bonds denominated in dollars gained up to more than 2%, led by the Global 2046 (+2.5%); Global 2038 (+2.4%); and the Bonar 2030 (+1.9%).
The weighted average price of globals was above US$34 for the first time since February 22 and appears to have consolidated a new floor.
The weighted average rate stood at 19.93%, and the Argentine country risk fell 1.3% to 1,692 basis points, becoming the lowest level since mid-December and against its record of 1,991 units recorded at the beginning of March.
What is the market looking at? “Argentina at times behaves like its peers or even shows a better performance with respect to the region’s bonds. LATAM ten-year bonds cut between -2/-5 bps in their yields. Local drivers are few. After the negotiations with the IMF and the Paris Club, there are plenty of doubts about the fulfillment of the goals set for Argentina in a context of high inflationary pressure,” they commented in the market.
For their part, bonds in dollar-linked pesos showed good demand, in step with what is happening in the futures market, and rose 0.8% on average, with T2V2 standing out, which already yields -2.45% TNA .
Finally, the debt adjusted for inflation operated as a borrower in the short section, which gained 0.3%, while it was heavier in the middle section, which practically ended changes “The CER curve shows negative real rates throughout the short section, just getting positive from TX24 onwards”, they remarked from the SBS Group.
Source: Ambito
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