Bonds and stocks return to operate with profits and the country risk falls again this Monday, October 28, in the face of an optimistic investment climate due to positive economic signs. A positive fiscal result, signs of a decline in inflationthe recent monetary support from international organizations, broad compliance with a money laundering and Dollar purchases by the central bank (BCRA) create a favorable climate for investors.
“The BCRA buying reserves, loan announcements from international organizations, along with high-frequency indicators marking October inflation at 3% were key in the drop in Country Risk,” he said. Roberto Geretto of AdCap Financial Group.
He added that “especially, the decrease in inflation that reduces the dynamics of the exchange rate delay and“The purchase of reserves is convincing part of the market that the current scheme can be maintained until the elections.”
Equity remains bullish: Merval rises 1% to 1,891,926.05 points led by banks led by BBVA in a 5.4%, followed by Macro Bank (+2.6%) and Supervielle (+2.4%).
Along these lines, the papers listed on Wall Street climb up to 6% led by BBVAfollowed by Supervielle Bank (+3.9%) and Galicia Financial Group (+2.5%). Those that decrease the most are YPF (-1.5%), Pampa Energy (-0.9%) and IRSA (-0.8%).
Bonds and country risk
For its part, in the fixed income segmentdollar bonds rise up to 1.5% headed by the Global 2046followed by Bonar 2041 (+1.2%) and the Global 2030 (+1.1%). In that context, the country risk measured by the JP Morgan falls 3.3% to 935 basis points.
“Investor sentiment towards Argentina improved significantly in recent months and “It now appears that the government will probably be able to meet the sovereign debt payments due next year,” he said. Capital Economics.
He added that although “there are still no real signs that the government is going to address one of the key underlying problems behind Argentina’s economic problems: the overvaluation of the peso”.
Source: Ambito
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