Javier Milei spoke about the availability of REPO credit lines to guarantee the payment of interest and capital and reassured investors after the debut of the LEFI.
The dollar bonds and ADRs recover from last week’s losses and the investment climate improves after Javier Milei confirmed the availability of REPO credit lines to guarantee not only the interest payment for the month of January, but also the capital. In another order, the Government began to use LEFI to replace passive passes and the Central Bank maintained the rate remains unchanged at 40% APR.
“The effective yield of LEFI for the financial system is greater than that of Pases since LEFI are not affected by Gross Income. This allows the financial system to improve the yield of deposits. The BADLAR rate for private banks reached 37.9% TNA at the end of last week, marking new highs since mid-Maya process that would continue during this week. We believe that these increases could help control the dynamics of the exchange rate gap in the margin,” he explained. Delphos Investment.
The biggest concern among analysts is focused on the reserve accumulation power which the monetary authority will have from now on, mainly in the face of the scheduled debt maturity.
In this context, the hard currency securities They are making slight progress, with the leadership of Global 2041 up to 4.2%, while the rest of the bonds operate with increases of up to 2% of the Global 2035 and the Global 2046 (+0.9%). The Global 2038 (-1.3%) and the Bonar 2041 (-0.1%).
Thus, the risk country measured by JPMorgan advances 0.6% to 1,571 basis points.
S&P Merval and ADRs
On Wall Street, the ADRs advance up to 3.2% led by financial papers such as Supervielle Group (+4.9%) and BBVA Bank (+4.6%). On the other hand, it yields Bioceres (-1.6%).
The index S&P Merval win a 23% to 1,626,946.260 units, two weeks after having recorded its record of 1,723,014.51 points intraday in pesos. On this day, the most notable the papers as Supervielle Group (+4.9%), BBVA Bank (+4.8%) , Galicia Financial Group (+3.1%) and Macro Bank (+2.9%).
Source: Ambito
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