Parallel, local shares listed on Wall Street (ADRs) also show good performances. The largest increases are verified in YPF (5.3%), Banco Macro (3.1%) and Despegar (2.3%).
This afternoon, INDEC will release the Consumer Price Index (CPI) for December and for all of 2021. Private estimates indicated a monthly inflation of 3.4%, which would result in an annual price increase of 50.2%. , the second highest in 20 years, behind the 2019 figure.
In 2020, the CPI registered an increase of 36.1%, in a period characterized by the paralysis of many activities due to the outbreak of the coronavirus pandemic.
From different levels, the acceleration of inflation was a phenomenon that occurred in most countries. In the United States it became the highest in almost 40 years.
The imminent rise in rates by the Fed, in this context, is another conditioning factor for emerging markets. Such a correction often benefits bank stocks, while hurting “growth” stocks like tech.
Bonds and country risk
Unlike equities, sovereign bonds in dollars suffer new losses, at a time when he is looking for a political nod from the United States to advance in negotiations with the IMF.
Titles fall to 1.2%, for which Country Risk advances 0.8% to 1,848 units, the highest figure since November 30 of last year.
In search of support from the Joe Biden government, Foreign Minister Santiago Cafiero will travel to Washington. The agreement with the Monetary Fund is not only an economic issue and Foreign Minister Cafiero is now traveling to the United States to carry out other types of meetings that have to do with the geopolitical discussion and between States about the next agreement,” he said at a press conference. press the presidential spokeswoman Gabriela Cerruti.
“Argentina has already presented its proposal and is waiting. It is now in the agency’s hands to try to respond as quickly as possible,” he emphasized.
The biggest difference between Argentina and the IMF is in how to reduce the fiscal deficit, since the institution led by Kristalina Georgieva intends it to be through an adjustment in spending, while the Government seeks a more gradual reduction, supported by the higher collection.
Source From: Ambito
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