The Bonds in dollars They advanced firmly per second consecutive wheel on Tuesday, May 20, and the S&P Merval He maintained his upset streak, contrary to the New York square, which scored generalized falls to renewed fears on an imminent recession and commercial tensions.
The sovereign titles improved their performance in New York and Buenos Aires after the victory of the ruling party in the legislative elections. Even so, the caution persists for the elections of the national mid -term that will be held on October 26, where the Half of the Chamber of Deputies and A third of the Senate.
In this context, Bonds in dollars reversed their initial fall and rose up to 1%, by the Global 2030followed by the Global 2035 (+0.7%) and the Global 2046 (+0.5%).
Indeed, the country risk He decompress after closing on Monday in 675 basic pointsaccording to the measurement of JP Morgan.
From Investment Profession They pointed out that “The bonds were the most highlighted by second consecutive wheel, operating again better than their comparablewith sustained demand throughout the day “. Regarding the titles in pesos, they detailed that the bonds” CER continued something punished with a more optimistic market in inflationary matters “and there were no” great movements in the fixed rate curve “.
“I understand that the market is very good, and you should recover a little more. Bond prices are still very attractive And more knowing that I know approaches the payment of interest and of amortizations of the shortest in July, “said the operator Leonardo Svirsky to Scope.
At the national level, the Government announced on Tuesday that it will extend the TEMPORARY REDUCTION OF REETENCIONES For fine harvest -el wheat and the barley– until March 31, 2026. However, the measure does not reach the soy, corn, sunflower, sorghum and all its by -products that as of July 1 they will pay again export right to values at the beginning of the year.
From the ARGENTINE OIL INDUSTRY CHAMBER (CIARA) They celebrated the measure. “It is the right way,” they summed up and considered that “It would be desirable that they do the same with the grains of the thick harvest -soja and corn- that have high impact on production and export in Argentina“
Internationally, in New York the climate continues hostile due to persistent uncertainty about the economic impact of tariffs and of fear of a possible recession in the US. The qualifier Moody’s ratings He reduced the credit rating of the US government on Monday.
In addition, the markets still assimilated the movements, when the Treasury bonds They sold strongly due to concerns about the US fiscal situation, and actions in Wall Street suffered, before recovering at the end of the day.
S & P Merval and Adrs
In the variable income segment, the S&P Merval He advanced 0.4% to 2,378,463.98 units, and He registered his eighth rises in nine days. Instead, measured in dollars fell 0.4% to 2,030 points.
In that context, the leading actions closed mixed. Inward the advances of Edenor (+4.8%), Black Loma (+3.9%) and Ternium (+3.9%), while among the ones they gave the most Passener (-2.8%), Telecom (-1.9%) and BBVA (-1.2%).
Meanwhile, Argentine Companies Papers They closed with a majority on Wall Street, by the hand of bioceres (-2.3%), Telecom (-1.9%) and BBVA (-1.7%). At the other extreme, the increases of Black Loma (+3.6%), Port Central (+3.5%) Edenor (+2.7%).
“In early April, in the hands of a combination of both local and international negative factors (prior to the release of exchange controls at the local level and the Liberation Day at the international level), The Merval collapsed up to US $ 1,449 (April 9). Since then, he experienced a Awesome 40.2% recovery to the closing levels of Monday, “they said from PPI.
Although before this impressive up, the question is how much the leading bya index to grow. “To get to the maximum of January 9 should climb 17.5% something that seems possible due to the best drivers of the local contextmainly after the release of part of the exchange controls and a ruling that is consolidated for the October elections, “they analyzed.
However, for PPI there will be a Series of challenges, mainly abroad. “The recent increase in volatility, added to the persistence of high interest rates and recession fears can end up hitting the global variable income including Merval,” they concluded.
Source: Ambito
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