For his part, Argentine papers on Wall Street closed mixed. The increases were led by Mercado Libre (+5.2%), Despegar (+4.1%), and Irsa (+2.9%). The main casualties, meanwhile, were Banco Supervielle (-2.9%), Transportadora de Gas del Sur (-2.4%), and Loma Negra (-1.7%).
The central bank of Argentina announced this Thursday a drop in the passive rates of the Mutual Investment Funds. After the change, the rate for the FCI is located at 61.2%, compared to the rate of passive repos of financial entities that is 72%.
“The decision improves the transmission mechanism of the reference rate established by the BCRA Board of Directors to the short-term rates of the financial system”said Gustavo Quintana, from PR Corredores de Cambio.
On the other hand, the monetary entity also authorized financial entities to carry out stock market surety operations (passive) in pesos. “This ensures a floor of 66.2% TNA to the sureties”said one analyst.
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars closed mixed. The biggest increases were for Global 2041 (+1.4%), followed by Overall 2038 (+1.2%). casualties are highlighted Bonar 2038 (-0.7%) and Global 2030 (+0.6%).
“After the three-month rally that favored the bonds of emerging countries, and mainly Argentina (among other countries with low credit ratings), the parities have already lost the attractiveness they had some time ago”Delphos Investment said.
For his part, “Argentine peso-denominated sovereign bonds remain calm and uneventful (and) the increases in financial dollars were not enough to consider an entry point to the carry trade”estimated the same study.
The country risk measured by the JP Morgan bank remained around 1,833 unitsreflecting the calm of the bond market.
On Friday, the Treasury will hold a tender for titles in which it will seek to meet maturities for some 106,000 million pesos They are almost entirely in the private sector.
Last week, the announcement of a repurchase of external debt for some US$1,000 million had been the kickoff for local assets to begin a firm recovery.
Source: Ambito
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