Argentine assets recovered some of the land lost at the start of a new month, in the midst of the fears generated by the commercial war and while the expectation of the new program with the IMF grows.
The local financial square began April with a recovery after the volatility and exchange tension of March, While concrete news about negotiations with the International Monetary Fund (IMF) is expected. The Buenos Aires stock market cut a four -drop -off streak and bounced almost 1%, while the Dollar bonds closed with a majority and the country risk was consolidated above The 800 basic points.
Argentina and the Fund can be in the final stretch compared to a new program of 20,000 million dollarsbut so far the agreement He failed to dissipate the anxiety of the operators, and a cloud of uncertainty around the perspectives for the exchange rate, Beyond the truce on Tuesday.
The leading index S&P Merval improved 0.8%, After falling 2.3% on the eve and closing March with a 6% rise in pesos (but a decrease in dollars), given the exchange coverage due to fears to an upcoming devaluation, which is insistently denied from the government.
The promotions of the day were starring the actions of Pampa Energía (+2.6%), Cresud (+2.4%); and Gas Transporter del Sur (+2.3%).
The agency managing director, Kristalina Georgievahe told Reuters on Monday that The Argentine request to receive an initial disbursement of 40% of the total of the new program to be signed is “reasonable”, based on the results achieved with the economic policies of adjustment implemented by the Government.
Bonds and Risk Country
However, the Bank country risk JP Morgan went up 0.9% to 823 basic pointsa day after having intradically climbing the 867 units maximum in five months and also coupled to the global aversion of the markets.
In that context, Titles in dollars yield. The falls were led by The Global 2029 (-1.6%); Bonar 2041 (-1.6%) and the Global 2035 (-0.6%).
The note of the day was given by the bonds in pesos that adjust by CER, and the instruments at a fixed rate, which bouncing up to 3%.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
