In the midst of the money laundering process and a notable increase in risk assets, what investment alternatives exist according to the different risk profiles.
He money laundering started approximately two months ago, has had a strong impact on financial market prices. On the one hand, the exchange has gone from 0% to between 1% and 2%. On the other hand, many assets that we previously perceived as cheap have shown a considerable increase in their price, such as the case of Bopreal series 3 or the BPY26.
Regarding the current context, we observe that the different types of parallel dollars are at relatively low prices, which leads us to rule out long-term instruments in pesos.
However, for shorter-term investments, we like the Short lecaps as an alternative to paid accounts, since we find value in the difference in rates. The new Lecap S31O4 offers a monthly rate of 3.75%, while paid accounts are around 3.1%.
In any case, for those investors who consider that the inflation will continue to fall until reaching levels close to 2% (monthly devaluation of the official dollar), it is possible to position oneself in Lecaps as of September 2025 (S30S5)which offers a monthly rate of 4%, waiting for a compression in the curve fixed rate securities.
Regarding dollar securities, our current position is to maintain a conservative approach until better opportunities arise. Rates on higher-risk bonds and fixed-income securities have compressed significantly, so I prefer to wait in a dollar fund, such as the Cocos Savings in Dollarswaiting for better returns.
However, for a moderate risk profile, the BPY26 is presented as an interesting option, with a return of 14%. This bond matures in May 2026, within the same management that issued it, which is a positive sign.
For more aggressive profiles, we recommend longer-term sovereign bonds, such as the GD35 or the GD41both with long duration, which could offer greater profit potential if country risk decreases.
Financial Advisor of Cocos Capital.
Source: Ambito
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