The Sovereign bonds in dollars they lived a day of glory, since its prices flew up to more than 15%, driven by rumors of upcoming changes in the national cabinet and the implementation of economic measures that give greater clarity to the direction of the economy.
Much of the hard currency stocks ended with double-digit spikes, such as the Bonar 2035 (+15.5%); Bonar 2029 (+4.9%); Global 2030 (+4.5%); Global 2035 (+4.4%); Bonar 2030 (+5.3%); Global 2038 (+5.78%); and Global 2029 (+3.6%). These public securities, which came onto the market after the 2020 debt swap, had already advanced almost 9% in the previous round.
The improvement in bond prices is due to the imminent changes in economic policy, which would be implemented with the arrival of the current president of the Chamber of Deputies, Sergio Massa, in the Ministry of Economy, replacing Silvina Batakis, who was appointed three weeks ago after the unexpected departure of Martín Guzmán.
“The expectation of changes in the cabinet, with a focus on economic management, continues to feed tactical bets on domestic assets before operators who seek to anticipate a possible improvement in the expectations of economic agents, an essential catalyst to aspire to a recovery of the punished valuations”said Gustavo Ber, from Estudio Ber.
Batakis has just met with the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, and with representatives of international funds and Wall Street investment banks.
The markets reacted positively, as it is speculated that The new winds will bring about economic changes aimed at normalizing the country’s accounts, at a time when annual inflation threatens to exceed 90%.
Source: Ambito
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