On Wall Street, for its part, the shares of Argentine companies rose up to 6% thanks to Central Puerto. Edenor (+5.3%), Cresud (+4.6%), and Banco BBVA (+4.3%) also climbed strongly.
The vice president received on Tuesday a sentence of six years in prison and disqualification from holding public office in a resounding corruption case known as “Vialidad”, although the sentence will be suspended after the expected judicial appeal.
“The real sentence that they give me is that of disqualification for elective positions,” Fernández said after reading the ruling, and stated that “in 2023, I will not be a candidate for anything, I will no longer have privileges.” As president between 2007 and 2015, she opposed the dynamics of the financial market and this was seen as something very adverse by the investment world.
“That Cristina (Fernández) does not play (in 2023) and says so expressly so far in advance is welcomed by the market, since her policies tend to be interventionist and this bothers the financial world,” a foreign private bank analyst told Reuters.
According to analyst Gustavo Ber, consulted by Ambit: “Beyond the fact that operators are closely evaluating the signals and possible political scenarios, the reaction of domestic assets is timid for the moment, still conditioned by a more cautious external context. This is also reflected in the continuity of the readjustment of the financial dollars in the face of a greater search for coverage by economic agents in the face of serious economic challenges ahead”.
Meanwhile, an operator consulted by this means of Bull Market Brokers He maintained that the rebound of the ADRs is not related to Cristina: “I don’t think the truth has much influence. It is more than proven that Cristina is and will be an influential figure whether or not she has an institutional role. She saw herself in 2015-2017 as the leader of the opposition even without any position and also when she decided the presidential formula being a Senator and without being the one she led “.
“Cristina’s power does not reside solely in the institutional. That said, it is also discounted that if she ran for elections with her hard core, she would not win. I think the market already discounts that the player with the most chances in the FDT is Massa CFK already relegates her to a position of “guarantor of social order” or conditioner, rather than candidate”. And she added: “I think that in practice not much changes, apart from the fact that he is still free to change his mind at any time and run for elective positions while the sentence is not final.”
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars closed. The main increases were for the Bonar 2038 (+3.4%), the Global 2035 (+2.8%), and the Bonar 2029 (+2.4%). Thus, the risk country it fell 2.5% to 2,326 basis points.
Sergio Massa’s economic team outlines the strategy for the Treasury tender scheduled for Wednesday the 14th, with maturities of some 405 billion pesos, the majority of which is in the hands of private holders, market sources agreed.
“The idea would be to appeal again to the box of the provinces and municipalities to accompany the tender, although the conditions of the papers offered would improve compared to the last tender in November, where an attempt was also made to attract these entities.“, explained the SBS Group.
Source: Ambito
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