In it local marketthe dollar bonds fall up to 3.8%as is the case of Bonar 2041. Among those who give up the most, they are followed by Bonar 2029 (-2.1%) and the Global 2029 (-2%). Meanwhile, the only one that goes up is Global 2046 (+2.9%).
In that context, country risk rises 0.1%or 2 units, up to 1,866 basis pointsas measured by JP Morgan.
Debt in pesos: strong rise in CER bonds
The CER bonds -which adjust for inflation- operate with most rises. Those that advance the most are the PR13 (+2.3%), the DICP (+2.1%) and the TX26 (+2%). Meanwhile, those who fall the most are PAP0 (-6.9%) and the CUAP (-3.9%).
For their part, the sovereigns linked dollar breaks bullish streak to the drop up to 5%as is the case of T2V4. At the same time, the TV24 gives up 0.9%.
First tender of the Milei era and its impact
Last week, the President Javier Milei signed a decree that includes more than 300 measurements whose objective is deregulate the country’s economywhich includes the elimination of laws on price controls and the promotion of industrial activity.
In this framework, a process of search for coverage in the context of high inflation and a recent lower interest rate.
On the other hand, last Wednesday, the Ministry of Economy took debt in favor of the Treasury by 2.96 billion of effective pesos (about 3,689 million dollars), in what was a multi-million dollar operation Thanks to the liquidity that prevails in the market following a new monetary policy.
The brand new Government of Javier Milei decided through the central bank (BCRA) eliminate transactions of the so-called “Liquidity Bills” (Leliq) from this week and, instead, offer short-term securities in national currency to expand the range of assets in favor of investors.
This first debt placement in the domestic market by the new administration It was relevant since the amount awarded exceeds a third of the money circulating in the Argentine economy..
He total offered rose to $13.05 billionthrough 12,828 offerswhich denotes the strong liquidity that exists in the financial market given the low real value of the local currency against the dollar. But, by making the fixed rate cut of 8.66% monthlyfinally the Treasury placed only $2.9 billion.
Source: Ambito
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