“On Tuesday we made a repurchase offer for US$200 M and we only obtained a market proposal for around 5% of the amount offered. Continuing with the deleveraging process, today we will be actively with 10% of the repurchase program in defense of the debt sustainability,” the official announced through the little bird’s social network.
The yield of bonds in dollars, which this Friday operated with falls of up to -4.3%, leading the fall by GD29, followed by GD35 (-2.35%) and AL29 (-1.7%), AL30 (-1.6%) and GD30 (-1.35%). Meanwhile, some globals operate with slight increases such as Global 2029 (+0.6%) or Global 2046 (+0.5%).
He risk country it fell 1.2% and stood at 1,951.
This occurs in the midst of the controversy generated by an opposition statement criticizing the policy of debt in pesos that the government carries out. The communication action generated a lot of controversy around the issue, with criticism of what many consider excessive indebtedness, but it caused many economists to come outdefend the position of the ruling partyamong them, Emmanuel Álvarez Agis, Martín Guzmán and Carlos Melconian.
This is the second buyback announcement of the week. On Tuesday the bonds were headed for a general decline, but after the announcement of intervention for the repurchase they reversed that trend. That day, Setti had pointed out that “the Fed’s rate hike generated a situation of general fall in the emerging markets that gives us a chance for continue consolidating the repurchase process. Today we will be present in the market with 20% within the announced program.”
Following this announcement, bonds reversed their downward trend on Tuesday and closed higher, led by the Global 2046 (+5.2%), and Global 2041 (+3%). The Argentine country risk measured by the JP Morgan bank, for its part, it was down 0.2% to 1,913 points.
Source: Ambito
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