The Buenos Aires stock market erases its initial advance this Friday, September 22, and accumulate four falls in a row, while bonds give way again and country risk hits a new high since last June, in a local and global context adverse.
He S&P Merval BYMA low 0.2%to 552,890 units, after starting the day on positive ground.
In it leading panel, The stocks that fall the most are those of Central Port (-2.4%), Banco Macro (-1.1%); and YPF (-0.8%). Meanwhile, the main promotions are for Supervielle Group (+1.1%), Ternium (+1%) and Aluar (+1%).
Thus, throughout the month local variable income assets they accumulate losses of up to 26% (Supervielle).
In Wall StreetFor their part, the Argentine papers operate mixed. Those who mark further progress are those of Vista Energy (+2.7%); Globant (+1.4%); and Pampa Energy (+1.3%). While the most notable casualties of the day were carried out by Bunge (-2%); Edenor (-1.7%); and Central Port (-1.5%).
“To the climate of high local uncertainty adds a most adverse external context and so the pressure on domestic assets deepens,” said the economist Gustavo Ber.
Investors “have abandoned the ‘election trade’ as operators lean towards a more defensive posture“waiting for definitions on the political map and possible economic plans,” he added.
Last Wednesday, the Federal Reserve American (Fed) maintained interest rates unchangedbut gave signs of a possible increase for this year amid much more restrictive monetary policy by 2024 to contain inflation.
At the local level, the result of the primary elections (STEP) that were held in August and that left the libertarian at the head Javier Milei -who proposes dollarizing the economy and eliminating the Central Bank- maintains the market’s attention.
Bonds and country risk
In the fixed income segment, dollar bonds they operate again with widespread falls. Those that decrease the most are Bonar 2041 (-3.8%), the Global 2029 (-2.8%) and the Bonar 2029 (-2.7%).
For his part, the risk country -measured by JPMorgan- increased 0.8% to 2,365 basis points, maximum since the beginning of last June.
Source: Ambito
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