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ADRs and bonds in dollars fall up to 5%: country risk hits highs in more than 10 days

ADRs and bonds in dollars fall up to 5%: country risk hits highs in more than 10 days
ADRs and bonds in dollars fall up to 5%: country risk hits highs in more than 10 days

The porteño bag resumed its activity this Monday after the recent holidays and operates in decline due to persistent unwinding of positions due to profit taking at a time when political uncertainty, motivated by the treatment of the Law Bases in Deputies.

“In a key week for the Governmentthe focus of attention will continue on Congress, since the Chamber of Deputies must ratify the half-sanction of the “Bases Law” and the Senate’s fiscal package, orpersist with the original version“said clearing and settlement agent Puente in his report of the day.

He Senate approved with modifications a package of reforms promoted by the ruling party called the Bases law, which must now be endorsed by Deputies.

S&P Merval and ADRs

The leading index S&P Merval falls 2.5%, to 1,537,708.92 units, after losing 0.4% during the last week that only had two days of operations.

“There are many stocks that are below the moving average of 200 wheels and there are only a few banks above the 50 wheels. Everything makes me think that we are going to start a bearish trend in the short term that could extend for a few weeks,” said a Financial Letter report.

The main decreases correspond to IRSA (-6%), BBVA (-5.6%), Supervielle (-4.5%), Banco Macro (-4%) and Grupo Financiero Galicia (-4%).

The ADRs, for their part, operate negatively, led by the Macro Bank (-1.7%), Galicia Financial Group (-1.5%), BBVA (-1.5%), Take off (-1.3%) and Gas Carrier (-1.1%).

Bonds and country risk

In the fixed income segment, dollar bonds operate with drops of up to 4.9% led by the Global 2046followed by Global 2029 (-3.8%), the Bonar 2038 (-3.1%), the Global 2041 (-2.5%) and the Global 2035 (-2.2%).

In that sense, the country risk measured by the JPMorgan goes up 18 units to 1,438 basis pointsmaximum since June 12.

Source: Ambito

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