According to specialists, global risk aversion may continue to affect Argentine bonds: “We have multiple factors that could deepen these declines even further. Investors’ fear of default, the upcoming elections and the uncertainty of government policies also generate instability in bonds and the dollar. This year the course of Argentine investments will be marked by the electoral results and the firmness of the next measures. However, emerging countries will rely heavily on the aggressiveness of the Fed. Stronger policy will likely cause bonds to fall further. We are not alien to the globalized world”.
The country risk, on the rise and the ADRs, with falls
He risk country measured by JPMorgan rose to 2,183 points, with a variation of 2.83 compared to Friday.
For their part, the titles of Argentine companies that are listed abroad (ADRs) closed mostly lower amid jitters on Wall Street. The main North American indices began to fall after the festival day on Monday. Chief among them, the Dow Jones of Industriales, lost a 0.90%in an environment in which the fears of a tightening of interest rates.
Within this framework, the ADR that fell the most is edenorwith a drop of 5.43%, followed by Telecom Argentina (-3.19%) and IRSA (-2.79%). The ADR of Transportadora de Gas del Sur reflected a drop of 2.39%, while Pampa Energy fell 2.11%.
There was also a drop of 1.92% in Central Puerto, Grupo Financiero Galicia fell 1.05%, Grupo Supervielle lost 0.74% and Cresud dropped 1.02%. The title of YPFwhich fell 0.09% and black hill lost, 0.30%.
Only BBVA Banco Francés, which rises 0.43%, and Banco Macro, which rises 0.20%, show a positive trend.
Source: Ambito
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