The porteño bag jumped 3.8% this year Monday June 10while the dollar bonds rose to 5.3%, after the beating they suffered last week. The market is excited about the approval of the Bases law and the fiscal packagewhich will be debated next Wednesday (June 12) in the Senate.
Thus, sovereign securities they were quoted with the majority of increases and climbed up to 5.3% led by the Bonar 2030. He was followed by Global 2029which advanced 5%, while the Global 2030 escalated +4.8%. In this way, the country risk pierced 1,500 points: it fell 5.9% and closed at 1,488 points.
The Bopreales also had a great day and rose US$1.75 on average, highlighting strips 1-C and 1-D that climbed more than US$2.
For its part, The leading stock index S&P Merval of Buenos Aires rose a strong 3.8%after losing 8.2% last week, with what it has accumulated so far this year an improvement of almost 70%.
Regarding the Leading Panel of the Buenos Aires stock market, the day closed with general greens. The rise was led by Macro Bank (+6.1%), Southern Gas Carrier (+5.7%), and Pampa Energy (+5.4%).
The Argentine actions abroad, meanwhile, rose up to 6.8%, thanks to Southern Gas Carrier, Pampa Energy (+6.3%), and BBVA Bank (+5.6%).
Bonds in pesos
On the other hand, both sovereigns dollar-linked as The duals operated mixed, alternating ups and downs along the curve, with TDG24 concentrating the volume, which fell 0.35%“he explained SBS Group.
The same report indicated that The CER segment also showed selectivity along the curve, which on average fell by 0.2%, with more pronounced declines in the TZXD5 and TZXD6, which lost 1.5%..
Finally, “after a very slow week Lecaps showed good demand at times, but sales appeared at the close and ended practically flat“. At closing prices, rates were between 37.45% TNA (June) and 65.53% TNA (March).
The investment climate: the key is in Congress
For the market, what happens with the Law Bases and the tax packagewhich will be debated next Wednesday (June 12) in the Senate.
Likewise, it is expected that the situation with the Bank of China regarding the currency swap will be clarified (Argentina renegotiates almost US$5 billion) and that finally the International Monetary Fund (IMF) approves a disbursement for the fulfillment of the first quarter goals.
In short, what the market observes is How the Government manages to solve its dollar shortage problemwhich is what is generating the most problems and concern in the city these days.
“The fears and defensive movements of the market (in previous sessions) would have been fueled from two fronts: the increasing difficulty in approving reforms in Congress and red flags in some sensitive macroeconomic variables. In particular, we identify the lower pace of grain liquidation and a stagnation of the expected disinflation path,” he said. GMA Capital.
