Investors await the presentation of a delayed ‘multi-year’ economic plan, amid speculation of a potential rate hike by the Central Bank (BCRA) after knowing the inflation in November.
“The logic – if you can talk about such a thing in the current situation – would indicate that some type of agreement will be signed by the IMF and our country; in order to qualify it, it is most likely that it will be light (and this) should be homologated before from the end of March, although there is always the possibility of extending the maturity dates without the creditors shouting in the sky “, estimated the consulting firm Massot, Monteverde & Asociados.
He added that “precisely because it is light, Argentina’s structural problems will remain the same (and) the extended facilities program will not restore the confidence of the markets to the government.”
On Wall Street, on the other hand, the ADRs of Argentine companies remain mostly low, among which stand out Irsa Propiedades Comerciales (-5.3%), Ternium (-4.8%), Despegar (-2, 8%) and Globant (-2.6%). The increases belong to Pampa Energía SA (+ 1.6%), Grupo Financiero Galicia (0.2%) and Banco Macro (0.1%).
In the fixed income segment, dollar bonds closed with a mixed trend. A) Yes, Country Risk, prepared by JP Morgan bank, remained stable at 1,688 basis points.
On the other hand, the titles in pesos that adjust by CER fell sharply, in some cases up to 3.8% (TX28) after it was known on Tuesday that the inflation in November was lower than expected (2.5%) by the market.
Source From: Ambito
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