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Country risk short bearish streak: dollar bonds operate with a majority of falls

Country risk short bearish streak: dollar bonds operate with a majority of falls

He risk country short bearish streak this Wednesday, February 21, after registering almost two year lows on the previous wheel. This is thanks to a rally bullish of the dollar bondsencouraged by a falling exchange rate gap and the advertisement of a primary and financial surplus in January, which was celebrated by the market.

He index what JP Morgan measures up 1%or 18 units, up to 1,780 basis points. In this way, he breaks a streak of four consecutive falls.

In this context, the dollar bonds operate with majority of casualties. Those who most fall are the Bonar 2035 (-2.6%), the Global 2041 (-2.5%), and the Global 2030 (-2%). Meanwhile, the only one that goes up is Global 2029that advances 0.4%.

Bonds in pesos: how much they operate at today, Wednesday, February 21

Between the peso bondsthe CER titles operate mixed. Those who most they climb are the DIP0 (+5.8%), the DICP (+4.9%) and the CUAP (+3.2%). Instead, they fall TX28 (-4.3%), the PAP0 (-2.8%) and the PR13 (-1.4%).

The dollar linked they also operate mixed: he T2V4 falls 3.6%but TV24 advances 0.1%.

Dollar bonds fall and country risk short bearish streak: in what context?

“Past already two months of the new monetary policy implemented by the new Government, it is interesting to ask about the effects on the balance sheet of the Central Bank and the possibilities of lifting the stocks in the short term”the consultant estimated Delphos Investment.

He added that “they would remain firm during February the ‘liquefaction’ through persistently negative interest rates and the exchange rate appreciation product of ‘crawling peg’ at 2%. Questions about the sustainability of the appreciation will begin to grow as the second quarter and the liquidation of the thick harvest approach.”

The retail prices Argentines from February they will be “closer to 10% than 20%”, The Minister of Economy, Luis Caputo, stated this Monday during a television interview, far from the 20.6% that the country registered in January.

The Argentine economy currently registers highest inflation rate in the world after suffering a increase of 254.2% in the last 12 months.

The Government decided to issue a Treasury bill for 1,188.1 million dollars for six months, reported on Tuesday in the Official Gazette, within the framework of its monetary contraction program. The issue date will be February 23 and its amortization on August 21, with issuance, subscription and payment in US dollars.

Operational prudence focuses on the recent defeat of the Government in Congress, which rejected his ambitious omnibus law with which he sought to lay the foundations for a broad economic deregulation promised during the campaign.

Source: Ambito

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