The porter bag fell this tuesday for short term profit takingafter a Monday without activity due to the Labor Day holiday, while dollar bonds recovered after closing April with strong falls. The operators maintain that there is still an aura of prudence in the face of the complexity of macroeconomics.
This happened after the implementation of the new measures by the Government for the operation of the MEP and the Cash with Liquidation (CCL) which provided that operators must deposit the money in cash to operate in those markets and they can no longer be used papers and guarantees to access those markets.
Argentine bonds in dollars rose mostly to 4.8%, with Global 2030 leading the wayfollowed by the Bonar 2038 (+3.9%) and the Bonar 2035 (+3.7%). While the only one that fell was Global 2046 (-0.5%). The country risk improves 0.8% this Tuesday to 2,642 points.
In dialogue with Ámbito, Rafael Di Giorno, director of Proficio Investmentsaid: “Today both the AL and the GD were firm, especially the very requested GD in immediate cash. And you can see that the dollar remained calm, so to speak, and continued to fall in those places that were affected by the new normative”.
“The regulatory changes (…) mean that Investors are once again very attentive to what happens with the ‘Bonars’ and ‘Globals’ in general, and with the titles ‘AL30’ and ‘GD30’ particularly since these are the most used for exchange operations,” said the StoneX brokerage.
In April, with regard to fixed income, sovereign bonds in dollars had a negative reaction in the market and operated with strong falls, especially in the short section of the curve, with a average drop of 15% in dollars, but which in some cases reached -19.5% (AL30), or 16% (AL29).
Regarding fixed income in pesos, sovereign bonds dollar-linked they rose 1%, while the Duals averaged increases of 0.9%, and the TDA24 stood out, gaining 1.5%. As for the CER segmentwhile the leceres ended with average increases of 0.6%, the Bonceres they alternated rises and falls, closing with an average rise of 0.15%.
Shares and ADRs
He S&P Merval index of Buenos Aires lost 0.8%, to 295,630.986 pointsafter scoring its all-time high in pesos of 307,057.03 units last Thursday and climbing 21.3% in April. The shares of the leading panel fell to 3.9% this Tuesday thanks to the Supervielle bank, followed by Central Puerto (-3.4%), and Telecom (-2.7%).
The papers of Argentine shares listed on the New York Stock Exchange closed mixed. The main falls were for Adecoagro (-3.2%), Mercado Libre (-2.8%), and Cresud (-2.3%). The biggest increases, meanwhile, were for Despegar (+5.2%), and Pampa Energía (+1.4%).
This happened in the context of the fall of the main Wall Street indices where shares of regional banks plummeted amid renewed fears about the health of the financial system, as investors tried to gauge how much longer could the Federal Reserve raise interest rates.
Source: Ambito
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