As to CER-adjusted peso bonds grew 0.5% on average along the curve, but “in the week they accumulate a fall of 1% on average, with the long section being the most affected (TX28, DICP)”, reported the SBS Group.
The same analysis indicated that “dollar-linked sovereigns operated today in defendants and rose 0.25% on average, but they did not manage to offset the accumulated losses of the week that averaged 0.5%, with Q2V2 being the worst hit.”
The Chamber of Deputies rejected the 2022 budget bill on Friday sent by the Government of President Alberto Fernández, a key step in the negotiation that the country is carrying out with the International Monetary Fund (IMF) for a hefty debt of about $ 45,000 million.
The Government will have to extend the current budget to govern next year, assured the Minister of Economy Martín Guzmán and recognized that the legislative reality “affects the negotiations” with the IMF. The managing director of the Fund, Kristalina Georgieva, stated that she had a “very good meeting” with Alberto Fernández via videoconference.
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The S&P Merval index improved 0.3% to 83,234.04 points. The leading panel closed mixed. The increases in Cresud (+ 3.9%), Telecom (+ 3.4%), and Transportadora gas del sur (+ 2.1%) stood out. The losses were led by the banks Supervielle (-1.4%), Grupo Galicia (-1.1%), and Cablevisión (-0.5%).
The ADRs of Argentine companies closed mixed on Wall Street and the increases were led by Despegar (+ 8.1%), Globant (+ 3%), and Irsa (+ 1.5%).
“A complicated day for our square, because Congress is not good as an image when it is necessary to bring positions closer to the IMF, but to this are added the external doubts due to the rate hikes and the advance of the Ómicron variant (of Covid-19) “, synthesized Armando Rojas, analyst of a private consultancy.
The economist Roberto Geretto tied the stock market move “more to the fall in financial dollars, since the value of ADRs in pesos falls (…), and in dollarized bonds I attribute it more to the external context”.
Source From: Ambito
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