“The fall of the Merval coincided with the announcement of the repurchase of debt”commented an operator and pointed out that “a readjustment of prices is logical and healthy, although the falls are strong.”
In Wall Street, the Dow Jones index fell 0.53%, the technology Nasdaq, 0.49% and the S&P 500, 0.50%, a few minutes after the opening. Thus, Argentine papers collapsed in a general way up to 5% led by Edenor, Transportadora Gas del Sur (3.7%), BBVA (-3.3%) and YPF (-2.8%).
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars fell to 3.5% led by Global 2035, Global 2029 (-2.5%) and Bonar 2029 (-1.9%). Conversely, Global 2046, Global 2041 (1.4%) and Global 2038 (0.5%) rose 3.1%. Thus, the country risk rises 2.3% to 1,849 basis points, after a drop of more than 2% in the previous day.
Sergio Massaannounced on Wednesday that the government will repurchase foreign debt for US$1 billion to improve the country’s debt profile.
Source: Ambito
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