After the general elections, Argentine Deposit Certificates are trading with strong drops due to the moderation of the CCL dollar.
Argentine Certificates of Deposit fall sharply due to the decline in the Cash with Settlement dollar. Among the main declines, the DIA ETF that follows the Wall Street Dow Jones index stands out, sinking more than 10%.
It should be noted that the “Cash with Settlement” (CCL) dollar – which companies use to transfer foreign currency abroad – plummets by almost $120 and pierces the $1,000 barrier. So, This day it falls $134.44 (-12.1%) and trades at $976.15. Before the elections it had advanced $153.52 and exceeded $1,100.
The main declines, among the most traded papers, are for Petrobras (-7.6%), Vista Energy (-6.6%), and the XLE ETF that tracks the energy sector (-5.7%).
For its part, The New York Stock Exchange opened lower on Mondayaffected by the rise in the yield of the benchmark 10-year Treasury bonds that exceeded 5%, its highest level in 16 years.
Is about a key S&P indicator pointing to a decline in stocks predicted trouble for the US economy, as interest rates are expected to remain high for an extended period.
“We are going to see a steeper yield curve and that is going to put pressure on long-term rates,” according to Di Galoma. “In the next six to nine months we will see a fairly pronounced economic slowdown, and that is what the market is anticipating”.
Source: Ambito
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