Bitcoin and Argentine assets on the stock market rose strongly in November. The dollar, however, remained the worst asset to invest in.
November was a month of celebration for several instruments in pesos. With the calm exchange rate, many perceived that the dollar was “cheap” and considered it the best option, but, on the other hand, the fixed term placementswhich remained in line with inflation, and Bitcoin stood out with a strong rise.
Investments: which were the instruments that rose the most in November
In the case of the traditional fixed termsAfter the Central Bank’s rate reduction, the private bank that offers the best performance is around 34%, which provides a TEM of 2.8%, in line with inflation, which in October was 2.7%.
In the case of a UVA fixed termwhich offers a performance in line with the advance of inflation, according to information from the BCRA, UVAs increased 2.85% between the first and last business day of November. The dollar lost the most in the month: the blue lost 5.88% while the MEP fell 5.7%.
On the stock market, the S&P Merval measured in pesos rose 22% but in foreign currency it jumped 27%, while Argentine companies on Wall Street recorded gains of up to 65%. Regarding Argentine companies listed abroad, the following stood out: YPF (+64.3%), Telecom (+45.8%), Edenor (+36.7%), Cresud (+36.3%), and Transportadora de Gas del Sur (+32.1%).
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November was an extension of the rally that Argentine sovereign debt had in September and October. The longest bonds had an excellent month with positive variations of around 15%, while the 29s and 30s rose 10%.
Thus, the papers that advanced the most in foreign currency were Global 2041 (+16%), Bonar 2041 (+15.8%), Bonar 2038 (+14.5%), and Bonar 2035 (+14.4%). %). As for the BOPREALES, they registered drops of up to almost 5% in the worst case (BPJ25) and in the best case (BPY26) with a decrease of 1.9%.
Finally, in the case of Bitcoin, the leading cryptocurrency advanced 37% this month. The price rise was due to the post-halving, Donald Trump’s triumph and strong growth in Bitcoin and Ethereum ETFs in recent weeks.
Source: Ambito
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