The S&P Merval rebounded on opportunity purchases and dollar bonds extended recovery

The improvement of the market goes “hand in hand with the main ADRs that have been showing a greater correlation with respect to external fluctuations that in recent times have held the dynamics of emerging markets hostage,” said Gustavo Ber.

The ADRs, meanwhile, were headed by the same companies as the leading panel of the Merval, the biggest increases: Banco Supervielle (+5.1%), Cresud (+5%), and Loma Negra (+4.8%).

Bonds and country risk

In the fixed income segment, the dollar-denominated sovereign bonds extended their recovery and registered increases of up to 5.1%, thanks to the Global 2035 (+5.1%), Bonar 2029 (+5%), and Bonar 2030 (+4.9%).

While the titles in pesos operated with increases of up to 2.5% and the only drop was the DICP up to 0.6%. Thus, the Argentine country risk it fell 2.7%, to 2,069 basis points.

The Argentine Economy Minister, Sergio Massa, held a meeting with the Undersecretary for International Affairs of the United States Department of the Treasury, Jay Shambaughwithin the framework of the G20 summit that takes place in the Indian city of Bengaluru.

For his part, The Argentine Vice Minister of Economy, Gabriel Rubinstein, will seek this Friday to close a quarterly review with the International Monetary Fund (IMF) in Washingtonto allow a disbursement of US$5.400 million by the agency.

Financial activity was somewhat affected by a 24-hour bank strike to demand wage increases ordered by the sector union.

“After the repercussion generated by the fiscal result of January and in the midst of the controversy in the Senate, the Finance team presented the conditions of the second and last tender of the month. On this occasion, faces total payments that reach 283,500 million pesos of which we estimate that close to 74% are in private hands,” said Portfoloio Personal Inversiones.