In this context, the question of how should we invest in such an intense year with elections that already begin this month of April in different provinces and that will extend throughout the year.
To this strong political factor to define personal or company investments, we have to add a level of inflation around 100% per year, a fragile exchange situation with a shortage of reserves and access to dollars, plus a historical drought that the country is going through. To this a high level of international inflation not registered in many years is added and strong exchange rate tensions due to the fall of some well-known foreign banks.
But then, what can we invest in from Argentina, with pesos, in this complicated context? Definitely For those who invest in pesos, they should not stop looking for the objective of beating inflation. The fixed term has been very fair with respect to the level of inflation and any additional rise in inflation could leave us at a loss of power actual purchasing power
One of the alternatives They can be interesting for those who invest in the very short termsay 30 days or not much longer, and is used to instruments such as the fixed termthey can be the Discount Treasury Billsknown as LEDs.
The LEDs are throwing a nominal yield greater than 80/85% per year that with reinvestment could generate an effective interest rate that exceeds 125% per year. These instruments would make it possible to make a short investment, even with collection at the end of April, that is, less days than a fixed term.
They also have the particularity and advantage that they can be sold at any time, without waiting for expiration, since listed on the stock market. For this reason, the Lede that expires on April 28 (S2843) is its trading code on the Stock Exchange, it may be interesting for beat inflation and at the end of the month re-analyze whether to continue in Ledes or exit to another investment.
For those who do not want to know anything with investments with returns in pesos, there are also options that can give you peace of mind and a charge in dollars such as Negotiable Obligations (ONs), which are debt bonds of recognized companies.
These NOs They can be purchased with pesos or dollarsand pay interest in US currency and also return the capital invested in dollars.
An option of ONs that It is attractive, it may be that of YPF, which expires in July 2025. (YCA6O is its identification on the Exchange). He pays semi-annual interest in dollars, 4.25% for each semester, and since it also trades at a lower value than what will be his final capital payment, then the return considering eventual reinvestments exceeds 10% per year in dollars.
Another option could be the ON of Genneia that expires in September 2027 (code GNCXO) that pays semiannual interest of 4.375% in dollarswhich also has the particularity that it does not pay all the capital at the end, but rather 10% of the capital will be collected each semester in US currency.
Outside the ONs and for those with a more aggressive investor profile, it can be a good time to take a dose of risk entering shares of companies listed on the local stock market.
There is attractiveness in the actions of Argentine Stock Exchanges and Markets (BYMA) to position itself in the short term. While looking at the medium term papers of Transportadora Gas del Norte and Transportadora Gas del Sur They can be an interesting alternative.
Other actions that may have a good development are some of the industrial and energy sector. Here we find attractiveness in Aluar, Mirgor, Ternium (ExSiderar), and those that have a presence in Dead cow such as Vista Energy or YPF.
Also a sector to follow closely to find the moment of entry are the shares of the local financial sectorwhich are delayed and which could take off at some point.
Source: Ambito
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