Bonds in dollars and ADRs moderate the fall: country risk is one step away from 1,500 points

Dollar bonds extend the bleeding this Wednesday, June 5, but they moderate the strong initial drop amidst uncertainty, both economic and political at the local level, which led the country risk to exceed 1,500 points although it is now piercing that key level again. The ADRs are trading with a majority of losses.

Under this complex panorama, dollar securities are experiencing widespread declines. Those who fall the most are the Global 2046 (-4.1%); the Global 2038 (-2.5%) and the Bonar 2029 (-2.5%). Those who turned around and go up are the Global 2041 (+0.6%) and Bonar 2030 (+0.2%).

In this way, the Argentine country risk rises 0.3% and returns to 1,498 after exceeding the level of 1,500 points at the beginning of the wheel.

At the local level, the treatment of the Bases Law in the Senate and the expiration of the currency “swap” with China put a blanket of caution among investors.

Added to this is that the members of the Lower House voted for a new pension system for retirees. With 160 votes in favor, the initiative agreed between Union for the Homeland, the UCR, We Make the Federal Coalition, the Civic Coalition and Federal Innovation It was finally the one that prevailed after a marathon session that ended around early Wednesday morning.

Argentine shares in the S&P Merval and on Wall Street

The leading stocks on the Buenos Aires stock market are trading with strong declines after the half-sanction of a new retirement mobility law that could impact public accounts.

The S&P Merval index lost 1.3%. Within the panel, the falls that show: Transener (+3.6%); Sociedad Comercial del Plata (-3%), Banco Macro (-2.8%), Transportadora Gas del Sur (-2.8%), and Cresud (-2.7%).

A similar panorama is observed in the ADRs of Argentine companies that operate on Wall Street, with drops of 2% in Banco Macro, 1.2% in Bioceres, 1.1% Cresud and 1% Mercado Libre.