The Argentine shares on Wall Street fall down 5.7%while the Argentine bonds in dollars they are trading with a majority of losses this Monday September 30. The S&P Merval falls and is on track to close the month with losses.
The S&P Merval loses 2% and the shares sink up to 4.6% in the leading panel. The one that gives the most is BBVA Bankfollowed by Supervielle (-3.6%) and Macro Bank (-3.3%). Meanwhile, the papers of Argentine shares in Wall Street fell up to 5.7%, mainly weighed down by the shares of the banks, with BBVA.
For its part, dollar bonds that they started the day in red, they reversed the initial trend and now some papers are trading in green. The main increases are for the Global 2041 (+0.9%), the Bonar 2030 (+0.6%), and the Global 2030 (+0.6%).
“There seems to be active profit taking in stock market matterswithout so many foundations for Argentine assets to fall with this harshness. “The banks had risen a lot in the past weeks, so we may continue to see some correction these days,” Eric Paniagua of Epyca Consultants.
This happens while waiting for the first data on September activity: tax collection, and patenting of cars and motorcycles 0 KM. The political impact of the La Libertad Avanza (LLA) act last Saturday in Lezama Park will also be monitored.
In the social sphere, we will have to wait the political effects on the new university march scheduled for this Wednesday, in rejection of the eventual veto of the university reform.
“We must also take into account that stocks were in a longer bullish rally than bonds, which still have a bullish journey ahead of them. Profit taking doesn’t look bad,” he explained. Emilse Cordoba in dialogue with Scope. “I get the feeling that the effect of bleaching has a lot to do with it mainly, capital leaving stocks and going to fixed income“he added.
International context: what to expect this Monday
“The global market begins the week with strong volatility in the Asian markets. In Japan, the main index of the Tokyo Stock Exchange, the Nikkei, fell nearly 5%in a reaction to the election last Friday of Shigeru Ishiba as the new leader of the country’s ruling party (PLD), who will also be the next prime minister,” they explained from Bell Busátil.
On the contrary, Chinese stocks soared as much as 10.7% after the People’s Bank of China announced Sunday that it will instruct banks to reduce mortgage rates on existing loans by approximately 50 basis points on average before 10/31/2023.
“This significant measure is part of China’s most substantial stimulus package since the pandemic, aimed at boosting the economy”expanded on the same report.
Beyond thisWall Street awaits comments from Federal Reserve Chairman Jerome Powell this Mondaywho will give the economic outlook during the annual meeting of the National Association of Business Economics in Tennessee.
Stocks and bonds: how they fared in September
He S&P Merval falls 2% measured in pesos but advances 4.3% measured in dollars to 1,379.32 points. Among the stocks that fell the most in the month is YPF (-15.3%), Southern Gas Carrier (-9.3%), and Stock Bank (-7.8%). For their part, those that rise the most are: Black Hill (+9.3%), Edenor (+8.3%), Northern Gas Carrier (+5.2%).
Source: Ambito
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