Dollar bonds rise up to 4% and one stock stands out both on the local and foreign stock exchanges following an investment announcement.
Dollar bonds rose for the third consecutive day this Thursday, August 15, and the country risk is at 1,510 basis points. In the same vein, stocks are trading positively, with IRSA rising significantly. The market is trading positively after the inflation data for the month of July, which marked a monthly deceleration of 4%, the lowest record. since January 2022.
Dollar bonds are trading with increases of up to 4.2% led by the Global 2038, followed by the Global 2035 (0.9%) and the Bonar 2041 (0.8%). Thus, the Country risk measured by JPMorgan falls 0.33% to 1,510 basis points.
“The market will be closely watching the dynamics of dollar flows for the rest of the week, in a context in which the CCL has been falling steadily in recent days, we believe due to some tax payments made in pesos. In any case, we continue to emphasize that the net balance of the BCRA in the MULC is usually negative in the second half of the year. Even so, it is worth noting that Argentine assets have been performing well, especially in terms of variable income,” explained Juan Manuel Franco, Chief Economist at Grupo SBS.
S&P Merval and ADRs
In the equity panorama, the Buenos Aires stock market is trading with gains of up to 1.2% to 1,631,749.83 points. The stocks that stand out are IRSA with 5.7%, BBVA (4%), Grupo Supervielle (3.3%) and Transportadora Gas de Sur (2.7%). Yesterday, Eduardo Elsztain, president of IRSA, promised investments of US$2 billion, which would have boosted the optimistic sentiment of investors.
On Wall Street, Argentine ADRs also rose by 6%, led by IRSA up 7%, followed by BBVA (5%), Cresud (4.7%), and Grupo Supervielle (4.5%).
Source: Ambito
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