The dollar bonds operate mixed this Thursday, January 8. For their part, the titles CER rebound up to 4.6% and the dollar linked They go through a green day. He change of trend in the market It occurred after the president, Javier Milei, asked to remove the omnibus law of Congress after the legislative failure.
In the local squarethe dollar bonds they operate mixed. Those who fall the most are Global 2046 (-1.6%) and the Bonar 2041 (-1.7%), while those that rose the most were Global 2038 (+0.7%) and the Bonar 2030 (+0.6%).
In that framework, the country risk falls 0.2% to 1,928 basic pointsas measured by JP Morgan.
Markets remain cautious
In the middle of a marked investment caution, The bonds operate differently: those nominated in pesos with the majority of increases and those in dollars with the majority of decreases.
The defeat of the ruling party in the treatment of an ambitious omnibus law in Congress hit the markets and plunged investors into a sea of doubts regarding the implementation of its government plan.
“The feeling that Congress left is that there is not much intention to push the change that the people proposed with their vote in November, with 56%,” the presidential spokesperson said at a press conference. Manuel Adorni.
“In this lack of collaboration (from Congress) we will evaluate which path to take, and with the rest of the issues we have constitutional tools“, he pointed.
For his part, the analyst Salvador Di Stefano He assured that the failure of the law left a “bitter taste“to investors who had bought sovereign bonds in dollars and shares. “We will have to wait for the market to refine, to rearrange itself, to see how the prices and parities are to see what investment path is adopted,” he added.
For its part, in the stock market the leading stock index S&P Merval falls 1.4%, after falling 5.14% the day before.
The Minister of Economy, Luis Caputorecently said that The non-approval of the law does not affect the economic program, which seeks to stabilize fiscal accounts. “You can’t spend more than you raise,” she stated categorically.
The Central Bank (BCRA) remains firm with the “crawling peg” of 2% monthly and analysts estimate that the controlled devaluation of the peso induces a strong exchange rate delay given the high inflation that hits the economy and is estimated between 20 and 25% for the first month of the year.
The current exchange controls keep the peso parity under control and They allow the BCRA to accumulate reserves at a time when the liquidation of foreign currency from the grain exporting sector is expected..
Bonds in pesos: CER and dollar titles linked
For their part, the CER bonds rise up to 5.7%headed by DIP0 (+5.7%), the PR13 (+4.9%), TX28 (+1.8%). While the only ones who go down are the CUAP (-2.3%) and the DICP and PAP0both -1.2%.
On the other hand, the bonds dollar linked they operate mixed: the T2V4 rises 1.2% and the TV24 falls 0.5%.
Source: Ambito
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