The paper linked to services and exports, or tied to the variation of the exchange rate and inflation, they are the most sought after among actors who discount a price rise again close to 100% for 2023.
In this context, Argentine papers listed on Wall Street rose to 6.4% thanks to IRSA and Galicia (+3.9%). Meanwhile, Bioceres (-2.8%) and Telecom Argentina (-1.1%) decreased.
At 4:00 p.m., the Government will release the consumer price index for the first month of the year, which, according to a Reuters poll, would show an average of 6%, a high level to drag annual inflation to almost 100%, after the 94.8% of 2022.
For its part, inflation in the United States in January was higher than expected, although lower than the previous month. Thus, inflation in year-on-year terms rose to 6.4%, above the 6.2% expected and below the 6.5% in December, which continues to confirm the slowdown in price risesbut not at the desired rate. This data will be key for the next meeting of the Federal Reserve (Fed).
“The market moves with highly liquid assets and they are those that allow you to place yourself under the shadow of inflation and devaluation. It is already discounted that retail prices may be around between 5.5% and 6.5% in January, nothing will change the decision because the final number has been made official,” said analyst Marcelo Rojas.
An IMF mission is carrying out a review of the country’s accounts, within the framework of the agreement signed a year ago that establishes goals for the accumulation of BCRA reserves and the financing of the fiscal deficit, among other objectives.
While Latin America’s currencies and stock markets were mixed on Tuesday, as markets digested an as-expected U.S. inflation data that raised the likelihood that the Federal Reserve will adopt less monetary policy. restrictive.
In the New York markets, its main index, the Dow Jones Industrials, lost 0.6% and stood at 34,041.90 points; while the selective S&P 500 index fell 0.6% and the Nasdaq technology index fell 0.3%. The Sao Paulo Stock Exchange, in its main index, Bovespa, lost 0.58% and stood at 108,203.14 points.
Bonds and country risk
In the fixed income segment, bonds fell again by up to 1% led by Global 2035 followed by Bonar 2035 and Bonar 2030 (0.6%). On the contrary, Bonar 2029 operates on the rise with an advance of 2%. Thus, the country risk measured by JPMorgan rises 0.46% to 1,975 basis points.
Source: Ambito
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