Dollar bonds rose to 3% and country risk fell to a 6-month low

In the leading panel the biggest rises were led by Transener (+2.6%), Edenor (+1.8%) and BBVA bank (+0.4%). While the main casualties were Grupo Supervielle (-1.8%), Telecom (-1.6%) and Aluar (-1.1%)

Wall Street’s main stock indexes fell more than 2% on the wheel as the Federal Reserve’s stance to maintain a prolonged tightening of monetary policy dashed hopes that the rate hike cycle would end soon.

In that context, Argentine papers culminated in the majority of casualtiesled by Mercado Libre (-3.7%), Telecom (-3.4%) and Grupo Supervielle (-2.8%). While they closed bullish YPF (+1%), Central Puerto (+0.4%) and BBVA bank (+0.4%).

For its part, on the New York stock market, the Dow Jones Industrial Average lost 2.3%to 33,202.22 units, while the S&P 500 gave way 2.5%, to 3,913.34 units. The Nasdaq Composite fell a 3.2%to 10,810.5 units.

Bonds and country risk

In fixed income, lThe sovereign bonds in dollars rose strongly, headed by the Global 2035 (+3%); Bonar 2030 (+2.2%) and Bonar 2035 (+2.2%). Meanwhile, the Argentine country risk measured by the JPMorgan it yielded 0.9% to 2,221 basis points.

For his part, dollar-linked sovereign bonds traded firm and they closed with increases of between 0.1% and 0.5%, while the duals gained 0.6% in the short leg, leaving the long leg of the curve flat. Regarding the CER segment, the short Leceres and Bonceres rose 0.35% on average, while long Boncers closed with marginal losses of 0.05%.

Operators point out that the attractive returns in dollars and rearrangements of portfolios from issuances in pesos mean that dollarized titles maintain their firmness.

On the other hand, in the local market the Ministry of Economy took on Wednesday 785,573 million effective pesos (about 4,565.4 million dollars) in a key tender for Treasury securities, exceeding market forecasts.