Investors begin the day by taking speculative positions at a time when all eyes are on money laundering, the exchange rate restriction and reserves.
The Argentine assets start the week on the rise encouraged by persistent taking speculative positions at a time when all eyes are on the money laundering Government-driven. Meanwhile, expectations that the US economy will avoid recession and cooling inflation will trigger a cycle of interest rate cuts. encouraged a greater appetite for risk. In turn, bonds operate with increases and the country risk is located below 1,500 points.
In this context, the S&P Merval advanced more than 1.2% to 1,670,554.93 points, after accumulating a rise of 13.58% in the previous seven trading sessions.
“We can say that behind the Merval there are solid fundamentals that can drive the index even further,” said the consultancy Delphos Investment. On this day, the most outstanding shares are Grupo Financiero Galicia (+2.8%), Supervielle (+2.7%), BBVA (2.7%), Banco Macro (2.1%).
Bonds and country risk
Sovereign bonds in dollars are trading with slight increases of up to 0.1% led by the Global 2041 and the Bonar 2029. Thus, the Argentine country risk measured by the JP.Morgan bank is located with a decrease of four units to 1,471 basis points, the lowest level since the second week of July.
A report by the SBS Group noted that “Global sovereign bonds are trading flat to positive at the start of the day.”
Source: Ambito
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