The sovereign debt in dollars closed unevenly. Some operators maintained that it was the impact of local political news and others did not give relevance to the announcement.
He President Alberto Fernández will not stand for re-election in the next elections. After learning this news, within the sovereign debt in dollars, Global bonds closed positive but Bonares fell. For his part, the S&P Merval ended the week higher with energy stocks leading the way. ADRs, on the other hand, recorded majority of casualties.
“The global bonds they went from more to less, that is, at the opening of Wall Street, before it opens here, they traded with increases of 2% and 3% on averageand then finished with improvements of less than 1%a context of great volatility and uncertainty,” he analyzed with Ámbito, Diego Martinez BurzacoHead of Research & Strategy at Inviu.
“Behind it there is a real economic problem that has to do with inflation that accelerated in March, a drought that implied a downward revision again this week of the harvesttherefore fewer dollars ahead, and additionally a very bad fiscal data for Marchwhich made explicit the failure to meet the goal with the International Monetary Fund and opened another front of conflict,” he said about the economic context.
Therefore, move forward with great caution, “There is a lot of volatility and we will see if additional stabilization measures come.”
In the local stock market, the biggest rises, within the sovereign debt in dollars, were for Global 2035 (+8.3%), Global 2046 (+2.4%), and Global 2030 (+2.1%). The casualties, meanwhile, were led by the Bonar 2038 (-2.6%), and the Bonar 2035 (-2.1%). “The fall of the Bonares is a bit because of the legislation, and another because of this idea that it is the channel through which the Government tries, in one way or another, to establish a limit to the rise of Cash with liquidation and where there are also more position of local bondholders,” Burzaco added.
Source: Ambito
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