These public securities, which came onto the market after the 2020 debt swap, have advanced almost 9% in the previous round; on Monday they had also operated on the rise.
Some analysts believe that the improvement in bond prices is due to the fact that there could be substantial changes in economic policy. Others, on the other hand, consider that the titles manage to rebound from very low levels and what is happening now are speculative purchases of opportunity.
In that context, country risk measured by JPMorgan falls sharply 118 basis points to 2,555 basis points.
On Wednesday night, the rumors of a possible landing of Sergio Massa as “super minister” to the Government generated expectations. Although without official confirmation, changes in his staff are being analyzed in search of relaunching-again-management. Among the conjectures is the name of Serge Massa for two key positions in the Government: Minister of Economy or Chief of Staff.
However, given the rumors that gave it as a fact, Massa himself came out to clarify that he had no offer. But there are other names in dance. This noon, the current President of the Chamber of Deputies is meeting with the President of the Nation after the first rumors, which increases expectations.
“The market improves due to the renewed appetite for global risk -with a correlate in emerging markets- and growing expectations for possible economic and political announcements”said Gustavo Ber, an economist at Estudio Ber.
S&P Merval and ADRs
After touching a maximum ceiling level of 130,400.39 units in the first negotiations, the Buenos Aires bag down 1% to 125,047.68 basis points. The volume traded in shares after the opening of operations exceeded $120.3 million. Surprisingly, after several sessions in decline, the Merval in dollars rebounds up to 7%.
In this framework, the Argentine papers listed on Wall Street rise up to 7% encouraged by Edenor, which rose up to 23%. The most notable rises belong to Loma Negra (6.6%) and financial companies Banco Macro (5.1%) and Banco Galicia (5.1%). The only three drops of up to 1% are led by Tenaris, Irsa (-0.3%) and Despegar (-0.1%).
Source: Ambito
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