This happened in tune with the performance of the US stocks that fell sharply, impacted by the aggressive attitude of the United States Federal Reserve (Fed) on inflation that could slow down the economy.
US Federal Reserve (Fed) Chairman Jerome Powell said Thursday that a half-point rate hike will be “on the table” at the May meeting.while officials from the European Central Bank (ECB) signaled that rates in the euro zone could start to rise in July and the Bank of England’s Catherine Mann indicated that the cost of borrowing is likely to rise further.
Driven by the rise in the CCL dollar, the S&P Merval stock index of Argentine Stock Exchanges and Markets (BYMA) improved by 0.2%, to 91,707.07 pointsafter losing 1.15% in the previous session.
The main rises of the day were carried out by BYMA (+3.5%), Supervielle (+2.7%), and Aluar (+2.1%). In contrast, the greatest decreases corresponded to Loma Negra (-2.9%), Cresud (-2.4%); and Cablevisión (-2.1%).
At the local level, the political tensions in the Government of Alberto Fernández and doubts about the economic future, despite a recent agreement with the International Monetary Fund (IMF), weigh on the mood of investors, operators agree.
Bonds and country risk
For its part, Argentine bonds in dollars fell to 3.1% thanks to Bonar 2028; Global 2035 (-2.5%) and Global 2030 (-2.4%) also fell sharply. Country risk measured by JP Morgan it rose 0.8% to 1,730 basis points.
Regarding the segment of fixed income in pesos, CER-adjusted bonds closed mixed. The ones that rose the most were Quasipar (+3%); and Par (+1.9%), while casualties were led by the Bonder 2023 (-0.4%).
Source: Ambito
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