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Investments of the month: linked dollar bonds climbed up to 13% and were the best in February

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In the case of sovereign debt in pesos, titles in pesos adjusted by CER recovered from 6% in the shortest maturities up to 9% in the longest tranches. In the whole month, dollar linked debt it rose 5.5% in the short tranche and 13% in the longer ones. The duals, meanwhile, ended with average increases of 0.8%, accumulating in the month average increases of 6.5%.

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It should be noted that this month, INDEC reported that the monthly estimator of economic activity for December fell 1.2% and that retail inflation for January stood at 6%, climbing to 98.8% year-on-year. Wholesale prices grew 6.5% in December.

In this context, the index BYMA’s S&P Merval for the month lost 2.4% after climbing 25.5% last January. In the dollar measurementduring February the decline was 2.1% and closed at $675.53. In the accumulated for the month, in the leading panel, the shares that rose the most were Sociedad Comercial del Plata (+12.4%), Cresud (+12.1%), and Banco BBVA (+8.5%).

“In February the upward trend of recent months is interruptedwith the Merval receding. Papers from the General Panel such as Molinos, rigolleau, Fiplastand among the leaders, Commercial Company of Silver, Cresud and BBva. Among the losses we do not see a defined pattern, although Telecom and Texalar stand out. Costanera Generation skids more than 25%. The Banking sector (except BBVA) showed negative returns. YPF closes with marginal decline”, indicated a report by Tavelli.

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While, ADRs of Argentine companies on Wall Street Those that grew the most were also Cresud (+11.4%), and Banco BBVA (+9.9%), and those that grew the least, Telecom (-12%), and Despegar (-9.4%). During this month, the markets were attentive to the decision of the Fed on the interest rate: the highest monetary authority in the US raised the rate by 25 basis points and took it to the 4.50%-4.75% range. It was the eighth consecutive rise.

Source: Ambito

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