“Monetary tightening and the prospect of slower growth or a recession continue to dent investors’ appetite for riskier instruments. Many are waiting to see how central banks manage to stabilize bond markets without cause further inflation in their economic areas,” said an ActivTrades report.
Economic and political tensions of their own keep the financial system in check, at a time when fears of a global recession are increasing amid growing upward pressure on interest rates by central banks.
The Argentine country risk, prepared by the JP Morgan bank, fell 23 units to 2,190 basis points, after having marked its intraday record at 2,214 units.
bonuses
On Thursday, dollar-denominated bonds continued at historical lows and closed with heavy losses, which reached 5.9% (Global 2038).
Finally, sovereign bonds in pesos ended the day with the majority of increases. TX28 (+4.4) and TX26 (+2.2%) stood out.
“I don’t think there is going to be a reprofiling of the debt in pesos because the only genuine source of financing for Argentina is the debt in pesos,” said Javier Timerman, from Adcap Grupo Financiero.
“Reprofiling would be like an atomic bomb that can give the country some immediate relief but breaks the possibility of further developing that peso market,” he said, estimating that “there is no place in Argentina for an involuntary reprofiling.”
Source: Ambito
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