Stocks leading pullbacks are Cresud (-2.7%), Transportadora de Gas del Norte (-2.4%); and Grupo Financiero Valores (-2.3%). And only two papers operate in positive territory: Cablevision (+2.8%); and Edenor (+1.8%).
Hedging in dollars puts pressure on the foreign exchange market, which presents historical maximum nominal values in the marginal price of the currency: the blue rises $4 to $218.
“The absence of a quick agreement with the IMF and the possibility of incurring in a default of payment for 2,879 million dollars in March put pressure on the prices (of the bonds),” Said Portfolio Personal Investments.
He added that “the large amount of pesos issued in the second half will converge with the seasonal drop in the demand for money in February. This could further inflate free dollar prices and, consequently, the exchange rate gap.”
In the alternative segments, the “cash with settlement” stock (CCL) reached $226 and the MEP dollar traded at $215.80.
Bonds and Country Risk
In the fixed income segment, bonds denominated in dollars fell to 1.7% (Bonar 2035), while the country risk remained stable at around 1,906 units, close to its historical maximum level of 1,915 points noted this Friday.
“Securities in foreign currency continue to show very high rates of return (among the highest in the world), and operate between 20% and 27%. This not only makes financing more expensive for Argentina if it wanted to return to the voluntary debt markets, but it also affects the private sector if it wants to borrow,” dijo Research For Traders.
In the weight segment, dollar-linked sovereign bonds traded unevenly, while CER-adjusted bonds climbed up to 2.2%.
Source From: Ambito
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