The bad streak continues: dollar bonds decline for the third day in a row and country risk climbs

The Argentine bonds extend decline for the third consecutive day this Wednesday, October 23. In the previous day they fell up to 1.5%, in the midst of an adverse global context, marked by the rise in rates of US Treasury securities. In that context, the country risk Argentine rises strongly.

The sovereign securities that fell the most are Global 2029 (-1.3%), the Bonar 2029 (-1.2%), the Global 2035 and the Bonar 2041 (-1%).

Operators foresee these ups and downs in stocks and sovereign bonds due to their prices in the area of ​​historical highswith the support of the fiscal surplus touted by the Government of President Javier Milei and the strong commitment to ongoing money laundering.

“For a week now, bonds have been trending flat or slightly down, and it’s not just the Argentinian ones, but also the emerging markets in general. given that the 10-year US Treasury bond rate has been rising in the last five days, touching a maximum of 4.20% now“he explained Rafael Di Giornodirector of Proficio Investment.

The change in trend towards a triumph of donald trump weighs on the bonds, as they are expected to Republican policies increase the inflation rate.

Stock market and ADRs

In the variable income segment, the leading index S&P Merval gives up 2% to 1,771,616.40 units and erases last week’s increase, although in the monthly balance it remains 4.4% up.

The shares of the leading panel lose up to 3.2%, led by YPFfollowed by Silver Commercial Society (-3.1%) and Southern Gas Carrier (-2.9%). Meanwhile, the only ones that rise are those of Edenor (+4.2%), Metrogas (+1.2%) and Black Hill (-0.3%).

In New York, Argentine papers also show a majority of losses, led by YPFwhich fell 3.7%, while the only ones that rose were Edenor (+5.2%) and Black Hill (+0.5%).