The hard currency debt fell in the foreign square at times where the market expects greater details on the agreement with the IMF.
The Argentinos Adrs retreated This Wednesday at Wall Street, in a difficult day marked by a strong fall exceeding 2% of the index that brings together technological ones, the Nasdaq. At the local level, the Buenos Aires bag also operated in red, both in pesos and dollars, while the bonds, after a mixed start, finished the downward wheel. The market remained in suspense waiting for novelties of the International Monetary Fund (IMF), which will be known tomorrow, and the tender of the Treasury, key to measuring the appetite of investors after the recent exchange tension.
In that context, the papers that are quoted on Wall Street gave up to 5.3%of the free market, Edenor (-4.8%), black hill (-3.5%) and Supervielle Group (-3.4%). The climbing and bioceres (0.2% and 4.5%, respectively) stands out.
In the local square, the S&P Merval He deleted the initial rise and yielded 1.9% to 2,439,966.22 basic points. Meanwhile, measured in dollars, the fall was 2.1% to 1,877.43 points. In the leading panel, the greatest falls were led by Mirgor (-3.6%), Ternium (-3.5%), northern gas transporter (-3.4%) and Loma Negra (-3.1%).
IMF sources confirmed yesterday a Scope that “The Technical Team of the Fund is keeping consultations with the Executive Directory” by the new agreement of Argentina and completed that the conversations about a new program are “advanced” and within the framework of its “usual internal processes.”
The same day of the “informal” meeting of the Board of Directors of the Agency, in which the new loan of Argentina, the president of France, was analyzed, Emmanuel Macronhe made a post in X after maintaining a telephone conversation that he had with his Argentine pair, Javier Mileiwhere the phrase stood out “The Argentine people can always count on France’s support”.
In the market it is speculated that the IMF could channel about US $ 8,000 million to strengthen the reserves of the Central Bank (BCRA) and others almost US $1,000 million to be used to cancel capital and interest with the agency, to be accredited in sections for objectives, regardless of the US $ 44,000 million of the current credit. Actually “the amount and exchange scheme are still being negotiated. In the end, the IMF does not want to increase exposure in Argentina without guarantees,” said the consulting firm Eco Go.
“This abrupt change in the official narrative hit market expectations, leading financial actors to leave the ‘carry’ (trace) and close positions (in dollars),” he added.
Treasury tender: expectation for the appearance of Dollar Linked
He Government announced one New tender in which it will face maturities for $ 9.2 billionof which approximately one third corresponds to public intrasector obligations.
“Among the most relevant instruments of the tender are the Dollar Linked bonds, whose demand could be increased after the volatility observed in the last weekproduct of uncertainty regarding an eventual change in the exchange regime derived from the new agreement with the IMF, “said market analysts.
Bonds and Risk Country
The sovereign titles in dollars closed with generalized falls of up to 1.3%headed by the Global 2035, Global 2030 (-1.1%) and the Global 2029 (-0.9%). Thus, the country risk measured by the JP Morgan increased 1 unit to 762 basic points.
Source: Ambito
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