The National Treasury exchange will be carried out in which some securities can be converted in exchange for a basket made up of dual securities.
This Friday January 24 The market remains expectant about the new debt exchange of the National Treasury and, in turn, the first reactions to the reduction of agricultural withholdings are already evident. Thus, the S&P Merval plummets by more than 5% while dollar bonds rise.
On this day, the National Treasury exchange will take place in which the following titles can be converted: S16Y5, S30Y5, S18J5, S30J5, TZX25, S31L5, S29G5, S12S5, S30S5, T17O5 and TX25in exchange for a basket made up of dual titles (fixed rate or TAMAR, the May.
Besides, On Thursday the Government announced that it reduced the rates of agricultural withholdingssoybeans go from 33% to 26%, soybean derivatives from 31% to 24.5% (the spread was reduced by 0.5 pp), wheat from 12% to 9.5%, barley from 12% to 9 .5%, sorghum from 12% to 9.5%, corn from 12% to 9.5% and sunflower from 7% to 5.5%.
In turn, Withholdings will be eliminated from regional economiessuch as sugar, cotton, bovine leather, tobacco, forest industry and rice, among others.
S&P Merval and ADRs: the first reaction
He S&P Merval It opened the day lower and then deepened the decline by falling 5.5% to 2,479,645.36 basis points. Thus, within the leading roles, those who lead the losses are: Supervielle Group (-6.3%), Macro Bank (-6.1%) and Pampa Energy (-5.1%).
As for the ADRsthey remain mixed, those that rise the most are Cresud (+3.1%), and irsa (+1.6%), and those with the least Supervielle Bank (-3.4%), and Macro Bank (-3.2%)
Bonds and country risk
The dollar-nominated bonds They operate on this day with the majority of advances. He Global 2029 rises 0.5%, while it follows Bonar 2035 (+0.5%), followed by Bonar 2030 (+0.5%). The country risk, meanwhile, is located at 646 points.
Source: Ambito
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