In the leading panel, the biggest increases were for Ternium (+5.8%), Transportadora de Gas del Sur (+5.1%) and Cresud (+4.6). The decreases, meanwhile, were led by the financial sector thanks to Banco Macro (-2.4%), Grupo Financiero Galicia (-2.2%), and Banco Supervielle (-2%).
The Argentine Central Bank (BCRA) rose last week by 200 basis points passive passing rate and the day before it raised the rate of passive repos for Mutual Investment Funds -FCI- to the equivalent of 95% of the rate of passive repos for financial entities, currently 72%, in an attempt to decompress the pressure on the dollar in the alternative exchange markets.
Bonds and country risk
In the fixed-income segment, sovereign bonds rise encouraged by dollarized issues after the debt buyback announcement, hand in hand with Bonar 2030 (1.3%), Global 2038 (0.9%) and Bonar 2041 (0.5%). Conversely, the Bonar 2035 (-1.4%), Global 2029 (-1.3%) and Global 2035 (-1.1%) decreased.
so, ethe country risk Prepared by the JP.Morgan bank, it falls 17 basis points to 1,855 units, compared to a historical maximum level of 2,824 basis points and a value of 1,083 units marked after the debt restructuring carried out in 2020.
“A reasonable range for the 2030 bond would be between $30 and $36. We are no longer going back to $20 flats”said Adcap Financial Group.
Source: Ambito
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