The Sovereign dollar bonds reverse initial trend This Tuesday, August 13th, and mostly risesin the context of a positive day for Wall Street, one day before the publication of the inflation data for July, both in Argentina and the United States.
In that context, Hard currency securities rise up to 2.2%such is the case of Global 2038 (-1.9%). They also operate with increases he Bonar 2041 (+1.8%), the Bonar 2035 (-0.4%) and the Global 2041 (+1%).
Thus, the Argentine country risk, measured by JP Morgan, drops just four points to 1,556 units.
Globally, “markets are a little more stable,” says the financial analyst. Leonardo Svirsky to ScopeThe New York Stock Exchange is trading higher, driven by wholesale prices in the United States, which reflected expectations a day before the publication of the consumer price index for July.
The Dow Jones index rose 0.23%, the Nasdaq technology index gained 1.24% and the S&P 500 gained 0.75%.
Bonds in pesos
As regards fixed income in pesos, dollar-linked securities fell by up to 1.9% and the one that goes down the most is the TZV25followed by the T2V4 (-0.9%) and the TZV26 (-0.6%). And the CER climb up to 0.9%, led by the TX28 and the TX26. And they fall the CUAP (-1.1%), the DIP0 and PAP0 (-0.9% both).
He Ministry of Economy will perform This Wednesday the first tender of debt in pesos of August. It aims to obtain the necessary funds to, at least, renew the $1.2 trillion in maturities this week. The main news comes from the rate signal that defined the team of Luis Caputo.
The Finance Secretariat, led by Pablo Quirno, will put on the table on this occasion three fixed-rate letters (LECAP), two inflation-linked bonds (BONCER) and two titles dollar linked.
The LECAP will be new issues: there will be one in November 2024, another in February 2025 and another in June 2025. The first two will be auctioned without a rate floor. However, in the third there is an important signal from the Government: for The June letter established a minimum monthly effective rate of 3.95%. The number implies a rate reduction compared to the previous tender, at the end of July. On that occasion, a LECAP had been offered for March with a rate floor of 4.5%. Although this time it is a longer bill, the reduction is considerable.
S&P Merval and Argentine stocks on Wall Street
The Buenos Aires Stock Exchange, for its part, fell 0.2% to 1,585,027.80 basis points, and measured in dollars is at the level of US$1,240.09.
As for the leading papers that lead the losses are: Southern Gas Transporter (-2.4%), Cresud (-2%), and Transener (-1.4%).
In the case of the Argentine companies that are listed in Wall Street, the trend is mostly upward.
The main increases of the day belong to Macro Bank (+1.7%), Bioceres (+1%), Black Hill (+0.7%). Although they also fall Southern Gas Transporter (-1.4%), Cresud (-1.3%) and Pampa Energy (-0.4%).
Source: Ambito
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