In this context, dollar bonds sank up to 9%, led by Global 2046. The Bonar 2035 (-5.6%), the Global 2038 (-4.2%), and the Bonar 2030 (-4.1%) also fell sharply. These stocks pierced prices based on the start of trading with a giant restructuring in 2020. CER-adjusted bonds also bled sharply. The ones that sank the most were the TX26 (-7.5%) and the TX28 (-6.1%)
Thus, the argentine country risk JP.Morgan rises 1.7% to 2,324 basis pointsbeing one of the worst indicators among emerging economies.
This Friday, the board of the International Monetary Fund (IMF) approved the first review of the agreement with Argentina for a debt of US $ 44,000 million, a source with knowledge of the matter confirmed to Reuters.
In addition, the Ministry of Economy managed in the last two days to reduce debt maturities that the Treasury must face next week to only 40%, after two swap operations for $362.5 billion (about $2.923 million).
“The decline in the market is worrying, buyers do not appear because the indicators of the inflationary economy and internal political problems grow daily”synthesized a banking analyst.
In turn, Synopsis Consultores, in its latest report, indicated that “the leadership of the president (Alberto Fernández is) at its worst moment,” and added: “His popularity at the worst moment of the entire cycle, alternative candidates for (the presidential elections of) 2023 and Kirchnerism (led by Vice President Cristina Fernández) threatens to put obstacles in its economic program.
ADRs and S&P Merval
On the New York Stock Exchange Argentine shares closed with most gains, and in some cases climbed up to 10.9%, as was the case with Despegar. Mercado Libre (+5.8%), and Globant (+3.3%) also led the biggest increases.
The shares of the state oil company YPF rose just 0.1% due to selective opportunity purchasesamong operators awaiting the ruling of a New York court on the expropriation issue, which could cause significant “costs and losses” if it were adverse, Rava Bursátil said.
For its part, the BYMA S&P Merval index lost 0.7% to 82,605.64 points, which is added to the 6% decline in the last four consecutive sessions.
Source: Ambito
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