The economist considered that “thus the Government would support that there are less expectations of devaluation”.
“The last thing the government is going to do is make a discreet jump, despite the fact that the devaluation of the official exchange rate is already running at 6.5% per month”said the market analyst.
In that sense, he said that “it was thought that it was going to be devalued after the special soybean dollar regime, and then there was a drop in expectations in the very short term.”
“That reassured parallel dollars, but we don’t see much inflow of asset demand overall. It’s a pretty poor month in terms of flow and demand for assets, that’s something you see quite a bit in the mutual fund industry.” Gandara explained.
For his part, Suh said: “IThe market is cautious, but last week CER instruments experienced a small rally with a kind of bond shortage because the Treasury came out to announce that there was a new auction of short fixed rate letter debt and a dollar linked bond.
“The market is more positioned in CER instruments,” he explained.
The economist referred to the call for bids for this Monday for $25,000 million in nominal value, and US$50 million in a linked dollar, which constitutes a preliminary test for the swap that is expected to be launched on Wednesday.
The menu of securities that will be made available to investors is made up of a Liquidity Letter with a very short discount, as of November 30, for $10,000 million at a price of $961, only for Common Funds.
Then there is a Treasury Bill with a discount for $10,000 million at a price to be determined in the auction, maturing on February 28, 2023, only for entities that are part of the Market Makers Group. Secondly, The offer includes a dollar-linked bond for US$50 million as of July 31 of next year, with a value to be determined in the auction, and a Treasury Bond as of May 23, 2023, also with a price to be determined.
Source: Ambito
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