With the dollar “Cash with Settlement” (CCL) that marks a new historical record and exceeds $900, Cedears are rising sharply up to 10%. It should be noted that although Argentine Deposit Certificates operate mainly in pesos, this type of stock market dollar is tied.
“The distance with the choice (there are still eleven wheels) and the marked deterioration of political expectations makes us think that It is highly probable that these maximums will be exceeded.”said Personal Investment Portfolio –PPI-.
For his part, for the economist Gustavo Ber“the CCL has been on the cutting edge – facing less regulation – and thus shoots the “gap” up to 150%. In any case, all dollar references have been suffering the attacks within a dollarization process that, as usually happens, accelerates before the elections“.
Thus, the Cedears that rise the most, in this context, are: Tesla (+9.6%), Banco Bradesco (+8.8%), Advanced Micro Devices (+6.5%), and Google (+6.6%).
“Taking into account the challenging context facing the Argentine economy, to which is also added the electoral uncertainty, A large part of the investment community considers that taking refuge in dollars is usually a good way to protect savings“said IOL Invertironline.
It is important to remember that Cedears are mirror shares of companies listed abroad, they can be purchased in pesos. It is a widely chosen instrument to “cover” from the economic and political turbulence in Argentina.
Besides, The Cedears ETFs replicate specific indices or sectors of the industry so by investing in just one of them you are also diversifying your investment.
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.