In the United States, Treasury bond rates fell and that helped the stock market in early trading: the Dow Jones advanced 0.32% and the Nasdaq 1.08%.
Prices rose 8.5% in 12 months in the United States, compared to 7.9% in 12 months in February, according to the Consumer Price Index (CPI) published on Tuesday by the Department of Labor.
The report is the first to cover the impact of Russia’s invasion of Ukraine and Western sanctions against Moscow, which have pushed up energy and food prices around the world.
In Argentina, a Reuters poll showed a median of 5.8% for the consumer price index (CPI) for the third month of the year, above the 5.5% predicted among analysts in a survey by the Central Bank (BCRA). .
“We see more factors that can make us worry, I think one of those is world inflation that continues to grow (…) Inflation is to be feared, and it would be more worrying if all this turned into a recession due to the increase in rates,” said a Buenos Aires-based financial analyst.
To the expectation of the national cost of living, with an expected rate hike starting the following week, it is added that from the US its inflation will be reported this Tuesday, which would support a more aggressive monetary stance by the Federal Reserve that would impact the global markets.
Bonds and country risk
Yesterday, the main bonds in dollars closed with a majority of losses, with a country risk that rose 13 basic points, to 1,723 units, in response to a greater global aversion.
The recent agreement between Argentina and the International Monetary Funds (IMF) to reschedule debt for some 45,000 million dollars was an extra oxygenation for the market, but doubts persist about the fulfillment of goals to be controlled quarterly.
In the week in which the country’s inflation data will be released, titles in pesos linked to inflation closed in positive territory, with increases of up to 1.3%.
Source: Ambito
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