“External bad mood, within a climate clearly oriented towards discretion, has an impact on emerging (countries) and thus also on domestic assets, where ADRs that were more persistent are already reeling from difficult times” , said an economist.
In the local segment, and inspired by the rise of the CCL dollar, S&P Marvel Index It maintained its upward trajectory with a rise of 1.7% to 149,480.84 points, thanks to a buyout led by Energy Papers.
YPF shares remained out with a gain of 3%. President Alberto Fernandez assured the United States that in the coming days he would send Congress a bill to boost investment in the energy sector, which the country needs to address a serious deficit.
documents of Cresud (+4,3%) and Telecom (+4,2%). The business generated $6,994 million in variable income.
Locally, the note was followed by the financial dollar, which posted another strong rise of 2% (over $312), this time jumping nearly 4% in the week.
Despite the huge inflow of foreign exchange from the agri-export sector, the market remains cautious when it comes to defining investments given the inflation forecast for this year, which could reach 100%.
“We are immersed in an inflationary inertia that is difficult to break (…) The official dollar can no longer hold back against inflation,” Retained economist Federico Furious. Given the expectation of devaluation, “In the social context in which we live, the need for a stabilization program will (…) be difficult.”
The day after the Fed’s rate decision saw a volatile day on Wall Street, with the S&P 500 down 0.8%, but the Nasdaq suffered more, falling 1.4%.
Treasury bond rates rose to levels not seen since 2011. The 2-year bond rate closed at 4.12% (+7 bp) and the 10-year bond at 3.71% (+18 bp). For its part, the dollar index rose 0.6% to 111.3, its highest since 2002.
Bond and Country Risk
in the fixed income segment, and like the Argentine shares in New York, sovereign bonds in dollars Downward trend led by globals ends GD46D (-3.4%), GD30D (-2.1%) and GD29D (-2%).
In this sense, the country’s risk as measured by JPMorgan It rose 1.4% to 2,433 basis points, the highest level in a month.
On the other hand, bonds in pesos Dollar-denominated prices were in demand and rose an average of 0.5%, with volumes focused on smaller tranches.
Meanwhile, mixed business in the form of CER-adjusted loans While lasers rose an average of 0.55%, the longest section of the curve offered bonuses in the shorter section, fixing the ground.
eventually, Dual 2023 showed little activity in general, TDJ 23 stood out which concentrated the volume and increased by 0.25%SBS Group reported.