The S&P Merval stock index lost 0.8%, to 90,217.22 points, against a fall of 1.4% in the previous two days.
To these restrictive fears to the detriment of the real economy, the markets were also concerned about a setback in the talks to put a ceasefire in Ukraine as a result of the invasion launched by Russia.
The Fed reaffirmed in its minutes its “intentions to raise reference rates higher than expected by the market, and also the reduction of assets on the balance sheet,” summarized Javier Rava, of the Rava Bursátil brokerage.
Along with less domestic liquidity due to investor reluctance in the face of latent global risk aversion, there is also internal noise due to problems in the governing coalition of President Alberto Fernández.
The country comes from closing a debt rescheduling for some 45,000 million dollars with the International Monetary Fund (IMF), which tangentially helped to oxygenate the financial market with the income of some 6,300 million dollars to the reserves of the central bank (BCRA).
The agreement with the IMF, which provides for quarterly controls, has a commitment to reduce inflation, reduce the fiscal deficit, increase interest rates and cut energy subsidies, among other demands.
Bonds and country risk
In the fixed income segment, the dollar-denominated bonds traded lower, from down to 2.2%, led by Bonar 2035, followed by Bonar 2029 (-1.9%) and Global 2035 (-1.5%).
On the other hand, the country risk of Argentina It rose seven units to 1,716 basis points.
Meanwhile, titles in pesos linked to inflation rose to 3.2%, such is the case of the Quasipar.
Next week the government will announce March inflation, which, according to private consultants, could be around 6%, against a firm 4.7% in February and a projection of around 60% for 2022.
Source: Ambito
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