Dollar stocks are up slightly, led by the Global 2035. This performance could help to generate a favorable initial reaction when trading starts on Wall Street.
The Argentine bonds are trading with slight increases in pre-market operations, following the announcements made by the Government to curb the Dollar climb.
The titles rise between 0.6% and 1% across the list and give the Treasury a first respite. Stockbrokers’ boards show the GD30 benchmark bond up 1.02%, while GD35 is up 0.9% and GD29 0.86%, among the most prominent. This behavior may contribute to a favorable initial reaction when trading starts on Wall Street.
The Government’s announcement
Over the weekend, the Government announced that will intervene in the foreign exchange market to contain the Cash Settlement Account (CCL) and that will purchase the bonds needed to pay the interest on the bonds maturing in January 2025.
This is a financial response to the market that, through its decision to dollarize, is demanding from the Government a concrete plan to get out of the exchange rate trap.
ADRs on the rise
In this context, Argentine ADRs in premarket operate with a majority of increases of more than 4% led by Central Puerto (4%), Adecoagro (3.9%), IRSA (2.7%) and Banco BBVA (1.6%). Meanwhile, Pampa Energía fell by more than 3.5%.
“While bonds started up, theThe market is awaiting the results of the latest regulations “These are good news, but we have to see how things turn out. What is more than clear is that there will be no monetary emission in any way,” explained the operator Leonardo Svirsky to Ambit.
News in development.-
Source: Ambito
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