Last week the sovereign titles scored losses of more than 1%. While, S&P Merval sank almost 5%.
The local Variable Income started the week with a majority of increases. This happened while the market monitors compliance with the reserves goal with the International Monetary Fund (IMF), the results of the provincial legislative elections and the advance of negotiations between the US and China.
In the Variable Income Curve, the S&P Merval It fell again, this time 2.1% to 2.111.196,880 points. Among the leading actions, the casualties of Aluar (-4.2%), Telecom (-3.8%) and Silver Commercial Society (-2.5%).
In Wall Street, the local companies also traveled a bad wheel headed by Edenor (-3.3%), Telecom (-3.3%), e IRSA (-3.1%).
The Buenos Aires stock market comes from losing 4.6% weekly in dollars, while the Banks of the banks accumulated setbacks of up to 10%. “We believe that, although The market continues in general optimistic (proof of this is both the expectation of inflation implicit in titles in pesos and in the REM-BCRA)there could be some uncertainty regarding external accounts, more promptly to the accumulation of net reserves, “he said Juan Manuel Francochief economist of SBS group.
The expert also mentioned the need to accumulate reservations: “Although in a flexible exchange scheme they are less necessary, we see them as a component that could help generate more confidence in the course chosen by the Governmentbeyond the primary fiscal surplus and the monetary prudence shown. It should also be considered, as we approach the elections, The market could also show some caution until you see the result of the event”He analyzed.
Bonds and Risk Country
The Bonds in dollars ended with a majority of advancesthe main ones were the Bonar 2029 (+0.9%), the Global 2029 (+0.8%), and the Bonar 2030 (+0.7%).
He country risk He gave up 15 units on Friday and closed to 691 basic pointsaccording to the measurement of JP Morgan.
Fixed income comes from a week with a majority of negative variations. Likewise, the titles in weights adjusted by inflation (CER) operated disparate, while those with a fixed rate exhibited majority of profits, leaving an implicit return rate (IRR) average close to 35% annual.,
Source: Ambito
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