“Market expectations at today’s meeting of the Central Bank board after the publication of the inflation data, and just immediately after a new auction of instruments in pesos”, said brokerage StoneX.
In this context, Argentine papers listed on Wall Street rise up to 5.5% driven by YPF after presenting its balance sheet in which it reported a recovery in its financial situation with a net profit of $94,063 million. On the panel, Banco Macro (4.4%), Banco Francés (4.1%) and Transportadora Gas del Sur (4%) continue to lead the day.
The market is “once again sustained through the main ADRs, since it is toward the most liquid papers that the operators’ tactical bets are directed,” said Gustavo Ber, an economist at Estudio Ber.
The leading stock index S&P Merval it gained 1.5%, to 123,920.51 units in a selective place, after advancing 0.17% in the previous session. In the leading panel, YPF also stands out with a 5% boost.
For its part, the Ministry of Economy will tender this Thursday three Treasury Bills in pesos with maturities 2022 and 2023, after achieving 85% acceptance this week in a short-term debt swap for about 2 billion pesos ( about 14,950 million dollars) for dual bonds (dollar-link/inflation) maturing in June, July and September 2023.
“Dual bonds manage to protect the investor against inflation and/or devaluation,” explained Delphos Investment, noting that “we believe the bonds have some appeal. However, considering the large mass of maturities approaching next year, the investor must be cautious.
Thus, sovereign bonds in dollars rebound up to 3% after falling up to 3.5% in the previous day. The advances respond to Global 2029, followed by Global 2030 (2%) and Bonar 2035 (1.5%). The sustained decreases respond to Global 2046 (-3.8%) and Bonar 2038 (-0.4%). The CER titles, pending the inflation data, operate with the majority of increases guided by the Quasipar (2%), PR13 (1.5%) and the Boncer 2023 (0.6%).
In that context, the risk country it lost 2.3% to 2,408 basic points, in its second consecutive day on the decline.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
