“If (the…) rumors (of potential REPOs) do not turn out to be true, it is likely that the initial effect will dissipate. If so, it is likely that investors will look to rotate within the sovereign curve to take advantage of the recent performance of the titles of the short tranche,” he added.
“The key this week will be the evolution of the exchange market and the gap between dollar rates and the movements of the Government to obtain external financing and thus reinforce the debt repurchase program,” said Cohen, the clearing and settlement agent.
In this context, the leading stock index S&P Merval It rises 2.9% to 254,828.38 points, after improving 2.28% over the past week, after falling nearly 10% Wednesday on profit-taking. The shares of the state oil company YPF stand out again with an increase of 5.75% to 4,550 pesos in Buenos Aires and 4.95% in New York to 12.52 dollars.
On the other hand, other operators pointed out that the stock market remains attentive to the trajectory of its external peers, amid speculation about lower expectations of future rate hikes by the US Federal Reserve (FED).
meanwhile, in Wall Streetthe ADRs of the Argentine companies listed in that market show a positive trend, where the rises of the energy companies led by Transportadora Gas del Sur (TGS) stand out with an increase of 9% after the Government accelerated the works of the North Gas Pipeline, to through Resolution 17/2023 published this Monday in the Official Gazette. TGS is followed by Cresud up 5%, YPF 4.8% and Terbium up 4.5%.
Meanwhile, in the financial sector, BBVA’s ADR rises 0.92%; Grupo Financiero Galicia has an improvement of 0.36% and that of Banco Macro jumps 0.66%.
Bonds and country risk
In the fixed income segment, the dollar bonds They operate with a positive trend where the rise of Global 2041 to 6.1% stands out. Only the AL 35 tends downward (-0.4%) and a fall of -2.7% is seen in the GD 38. The rest of the Argentine bonds in dollars subne between 0.3% and 2.2% . Thus, the country risk measured by JP Morgan drops 18 units to 1,856 basis points, compared to a record high of 2,976 points.
Source: Ambito
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