At the same time, local papers listed on Wall Street also registered a majority of drops, of up to 2.9%. Beyond the greatest calm of this session, ADRs accumulate important increases in the few days elapsed in December, led by energy sector firms such as Transportadora de Gas del Sur (+ 15.8%), Pampa Energía (14.8%) and YPF (-14%).
Assets had been showing significant increases based on signs of progress in negotiations with the IMF and a better financial climate in the world as a result of greater reassurance about the potential impact of the Covid-19 Omicron variant. This Thursday the main Wall Street indices show a pause, which also affects stock markets throughout the region.
The market remains attentive to the evolution of the conversations with the Fund, at a time when an Argentine mission made up of officials from the Ministry of Economy and the Central Bank (BCRA) is in Washington trying to bring positions closer to the multilateral credit organization.
“I am negotiating to reach an agreement,” President Alberto Fernández said in statements to the press. “We do not want to leave the world or breach our obligations (…) our proposal is not not to pay,” he said.
In this context, the expectation of an agreement before the end of the year grows despite the differences between the parties on how to finance a fiscal consolidation.
“The upward rebound in prices that we had was the result of an expectation of understanding / agreement with the IMF (…) but volatility persists,” said settlement and clearing agent Neix.
In line with the performance of equities, sovereign bonds in dollars show losses, which reach almost 3% in the case of global bonds.
This slightly mobilizes the Risk country measured by JP.Morgan bank, which it rises six units to 1,706 basis points.
Source From: Ambito
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