Sovereign bonds fall up to 4% two days before the elections

Sovereign bonds extend a drop of up to 3.7% this Friday, October 20 while the risk country rises 17 points, in the last day before the presidential election. Meanwhile, the CER adjusted bonds rise more than 3% in the Buenos Aires stock market.

In the fixed income segment, Argentine bonds nominated in dollars They operate with the majority of falls in the local market. Among them, those that decrease the most are Bonar 2041 (-3.7%), the Bonar 2029 (-3%) and the Bonar 2038 (-3%). Meanwhile, the only ones who rise are the Global 2029 (+2.9), Global 2035 (+1.7%) and Global 2041 (+1.3%).

For its part, in NYthe sovereign bonds in dollars they started with most rises. Those that marked the most important increases are the Global 2041 (+2.6%) and the Global 2030 (+0.5%).

In that framework, the risk country Argentine measured by the JP.Morgan bank goes up by third consecutive daywhen climbing a 0.7%equivalent to 17 units, until 2,420 basis points.

All of this two days before the elections and on the last day before, which generates pressure in the market due to the uncertain outcome of the elections which in turn drives a taking cover and exits of positions in local currency before a complex political and economic future short and medium term.

Among the main candidates for president are the libertarian Javier Milei seeks to dollarize the economy and eliminate the Central Bank (BCRA), the Minister of Economy, Sergio Massafrom the ruling party defends the peso, and the opposition Patricia Bullrich from the center-right it points to bimonetization.

For his part, the Dolar blue remains stable $880 for the buys already $900 for the salein the midst of new operations in the City, which maintained paralyzed to the caves.