The S&P Merval Stock Index it collapses 3.19%, to 87,180.61 points, after accumulating a rise of 9% during the week. pass. In the local market, the actions that registered the greatest decreases were those of YPF (-3.78%); Supervielle Bank (-6.33%); Cresud (-5.14%); Edenor (-3.99) and Transener (-5.90%).
The appointment of Batakis “what marks is that indeed the weakness of the president (Alberto Fernández) today is very great, he could not appoint a Minister of Economy more aligned with his position,” said María Castiglioni of C&T Economic Advisors.
This Monday “is probably going to be a busy day waiting for definitions, but the truth is that this scenario marks a significant degree of uncertainty,” he added.
The minister who renegotiated the foreign debt and spoke of “normalizing” the economy left his post on Saturday after facing criticism from the ruling party itself, specifically from the Kirchner wing of the Frente de Todos. With that behind us, the dollars that come from days of strong exchange rate tension will return to operate in a new scenario.
Independence Day in the United States generates some relief in the government. According to financial analyst Christian Butler “Today is going to be virtually a holiday and we are going to have the real reaction tomorrow. What is expected beyond anything else, are some definitions from this new minister to know where these 18 months left are going to go, which is the main thing.”
CER Bonds and Securities
Bonds in dollars in the local market plummet up to 10% while debt in pesos also shows a sharp drop. The debt in dollars begins a week with a drop of more than 7%. Without Wall Street as a reference, the Global 2030 fell 9.9%, followed by the local law bond AL30, which fell 9.5%.
For their part, the CER titles fell to 5.8% led by Discount (DISP), followed by Boncer November 2028 (TX28) at -4.5% and Boncer November 2023 (TX26) at -4%.
Source: Ambito
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