At the local level, the The Buenos Aires stock market reached its intraday maximum of 148,309 points, however, it reversed the trend in the progress of the negotiations and fell 0.2% to 146,400.46 points. The leading panel hit a record level due to purchases of leading hedging shares after the inflation data. The Consumer Price Index (CPI) increased by 7% in August, a figure higher than expected by analysts. In this framework, operators estimate that the Central Bank (BCRA) will decide today to increase its reference rate to adapt to the escalation of inflation and the need to sterilize currency in the market.
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars fell by up to 3% thanks to Global 2029, Bonar 2030 (-0.9%) and Bonar 2035 (-0.9%). On the contrary, the Bonar 2038 rose by 0.9%.
Meanwhile, the CER-adjusted bonds are listed with the majority of increases after the INDEC data of up to 1.5% led by the Quasipar, the Boncer 2023 (1.2%) and the Boncer 2024 (0.8%).
In this context, the Argentine country risk measured by JPMorgan rises to 2,341 basis points, the third consecutive rise.
Source: Ambito
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