Contrary to Wall Street, the Buenos Aires stock market begins the brief week on the rise due to opportunity purchases led by increases recorded in energy and financial companies in a complex global context. Weak economic data from China fueled fears of a global recession amid concerns that the Federal Reserve (Fed) interest rate hike to curb high inflation could hurt the global economy.
The S&P Merval stock index up 1.33% to 89,979.70 points, after a technical rebound that fueled a 3.83% improvement on Friday. “The market is trading at opportunity levels,” said one stockbroker, noting that “short position-taking is driving the improvement, although intraday profit-taking is not ruled out.”
Bonds and country risk
In the fixed income segment, lArgentine bonds in dollars operate with generalized falls of up to -1.6% of the Global 2046 followed by the Bonar 2038 (-0.5%) and the Global 2030 (-0.5%). The only rise belongs to Bonar 2041 (0.1%).
The country risk rises 0.6% to 1,906 points, a new maximum since the beginning of March (March 8, 1,979 points)
Source: Ambito
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