“The Buenos Aires stock market continues its streak and on the upward path ahead of the elections as fervent interest in equities remains“said Fernando Staropoli, account executive at Rava Bursatil.
Stock market firmness originates in the midst of a price freeze in mass consumer products, which is rejected by companies.
Analysts are carefully watching the political march since, if the results of the primaries are repeated, the ruling party would lose the majority in Congress, with two years ahead of President Alberto Fernández’s administration.
Country risk and bonds
The Argentine Country Risk measured by the JP.Morgan bank recorded its second consecutive decline on Tuesday, after hitting its highest on Monday since the debt swap with private parties (September 2020), at 1,683 basis points. On this day, it lost 0.6% to 1,657 basis points.
Within this framework, sovereign bonds in dollars operated with the majority of increases.
For its part, dollar linked debt in pesos is shown to be offered after the reopening of T2V2 and TV23 in the tender that the Treasury will carry out this Wednesday. Lastly, the CER-adjusted bonds return to operating with a majority of losses.
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