Although bonds and stocks rose, the country risk closed again near 1,600 points
Despite the improvement in today’s trading session, Argentine assets end the first week of the month with heavy losses. Investors’ focus on politics and the Central Bank’s dollars
After five consecutive rounds of decline, the Argentine assets got a break and recovered some of the ground lost during the week. Although it was not enough to reverse the rise in country risk that It started the week just above 1,300 basis points to close it around 1,600, the recovery during the day put a stop to a series of falls that was beginning to set off market alerts. In that sense, it calmed the debate about whether the accumulated decline of 9% in bonds listed on Wall Street, for example, was a simple correction after having risen more than 40% in the year or if what was happening was a cycle change. The answer is not yet clear but today’s improvement at least temporarily dispels the worst speculations.
