On Wall Street, the main drops are registered by the shares of Irsa (-4.7%) and Edenor (-3.8%) and BBVA (-3.8%).
“Local assets show a mixed behavior, as the main ADRs are looser, while on the other hand, bonds in dollars extend the recovery of the last wheels, possibly triggered by seasonal rebalances,” said Gustavo Ber.
Investors, meanwhile, are closely following the slow negotiations with the IMF to reschedule a millionaire debt and the news surrounding the increases in Covid-19 cases both in Argentina and in the rest of the world.
“The Argentine government has full interest in closing an agreement as quickly as possible based on an economic policy scheme that will allow the country to continue on the path of recovery and reducing inflation,” said the Minister of Economy Martín Guzmán in an interview with the newspaper El País.
For their part, sovereign bonds issued in dollars were down to 2.9%. CER-adjustable bonds rise to 0.8%.
The country risk prepared by the JP Morgan bank remained balanced at around 1,715 basis points.
On Monday the Ministry of Economy called the last tender for debt in pesos in 2021. This time it will make eight titles available to investors; a very short-term letter destined exclusively to Common Investment Funds, three letters at a discount (fixed rate), a bond at Badlar Rate + 5.25%, and three instruments tied to inflation.
Through these assets, the portfolio led by Martín Guzmán will seek to cover the $ 280,000 million that expire on the last day of the year. It is worth remembering that in the previous tenders the Treasury accumulated a net financing of more than $ 100,000 million. In this way, it seeks to reduce dependence on monetary issuance to finance the fiscal deficit.
Weekly financial activity in Argentina will run until Thursday, due to the December 31 holiday, on New Year’s Eve.
Source From: Ambito
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