On the other hand, the S&P Merval stock index loses 0.7%, to 88,609 points, pressured by the drop in the CCL dollar.
Faced with the greater daily devaluation pressure on the local currency exerted by the central bank (BCRA), papers tied to foreign trade tend to be preferred, operators said.
As for the debt negotiations, the market expects solutions before the maturity date with the IMF for some US$2.9 billion on March 22, at a time when the BCRA’s net reserves are below US$1 .000 million.
Bonds and Country Risk
In the fixed income segment, sovereign bonds in dollars operate with disparate behaviorjust like Monday. The country risk fell six units and stood at 1,777 basic points.
In last week’s index, titles fell by 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%.
“Let’s remember that a scenario in accordance 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 rounds”, they explained from the stock exchange company PPI.
Source: Ambito
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