In the same vein, Argentine shares listed on Wall Street (ADRs) also registered most increasesled by Irsa (+6.1%), Cresud (+3.3%) and Transportadora de Gas del Norte (+1.9%).
“This week there are several points to monitor. Among them, the details of the agreement and its subsequent treatment in Congress and the signs that the ruling coalition offers about its internal disputes,” said Portfolio Personal Inversiones (PPI).
For his part, an economist told the Reuters agency that support in Congress should not take so long, taking into account the March 22 maturity date for US$2.9 billion, at a time when the Central Bank’s net reserves are are below US$1 billion.
In the fixed income segment, the main sovereign bonds in dollars trade mixed, maintaining the trend of the last three rounds. The main rise responded to the most liquid title: the Bonar 2030 (2.3%). While the largest drop was suffered by the longest instrument: the Global 2046 (-3.7%).
“Let’s remember that a scenario in agreement with the Fund initially favored the longest titles that pay the highest coupons in the first years when the maturities are manageable. However, considering the political noise of this last week, it is not surprising the weakness of these titles in the last wheels”, they explained from PPI.
In this context, the country risk, measured by the JP Morgan bank, rises just four basic points to 1,784 units, maximum of seven wheels.
“Although the positive emotional shock that the announcement of an agreement with the IMF managed to give them raised bonds from historical lows, caution prevails in these assets pending greater clarity towards March, that is, when it can be made effective. the deal and dissipate any news that could disturb”, said Noelia Bisso, of Rava Bursátil.
In the index accumulated last week, the titles fell to 2.4%, affected not only by uncertainty at the local level but also by greater risk aversion at the local level. In this way, the weighted average price fell again below US$33 and the average rate climbed above 20%.
Source: Ambito
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