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The S&P Merval falls for the second round in a row and bonds fall to 4%

The S&P Merval falls for the second round in a row and bonds fall to 4%

The porter bag it falls again this Thursday, August 31, after stopping a bullish rally in the previous round. This happens in the middle of a process of recompositions of portfolios end of the month, which aims to end the eighth month of the year with a profit close to 50%.

In that context, the S&P Merval by BYMA falls 1%to 668,926.73 unitsafter going back a 1.1% on the eve by profit taking and reach last Tuesday a intraday all-time high of 690,781.66 points.

Thus, local actions operate with low majorities. The ones that register the greatest losses are those of BBVA (-3.6%), Galician Financial Group (-2.3%) and Cluster Supervielle (-2.2%). Meanwhile, the biggest rises are those marked by Southern Gas Transporter (+1.6%), Telecom (+1.1%) and bags and Argentine markets (+1%).

For his part, in Wall Street the Argentine company papers They trade with most retracements. The ones that fall the most are those of edenor (-3.2%), Pampa Energy (-2.4%) and BBVA (-1.7%). While the only ones that go up are those of Bioceres (+23%), Free market (+1.5%) and Southern Gas Transporter(+1.5%).

The S&P Merval falls again: in what context?

The proximity of some fights presidential electionwhere the libertarian javier milei, who obtained 30% of the votes in primary elections (PASO), left behind the opposition led by Patricia Bullrich and the ruling party, who has as a candidate the current Minister of Economy, Sergio Massacreates a complex climate among investors.

topping shots in shares drive the market after one primary election (STEP) that left the libertarian at the head javier mileithe one who proposes dollarize the economy and remove the central bank (BCRA).

“What we are seeing is a firm square with selective rearrangements at the end of the month“said an operator and pointed out that” in the background the market is still a taker given that prices remain attractive and investors do not want to keep pesos”.

On the other hand, in the previous round, the Central Bank (BCRA) bought dollars net by twelfth day in a rowending with $21 million in the exchange market. Thus, he reached his longest bull run in almost three months.

Bonds and country risk

In the fixed income segment, the dollar bonds start the wheel with low majorities. The falls are led by the bonar 2038 (-4%), the Global 2029 (-3.9%) and the bonus 2030 (-2%). Meanwhile, the only ones that go up are the Global 2035 (+2.2%) and the bonar 2029 (+1.8%).

In that framework, the risk countryprepared by JP Morgan bank, go up again, this time he does it in a 1.2% to 2,120 units.

Source: Ambito

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