The porteño bag It advanced 1.5%, due to the negotiations that the Milei administration is promoting with opposition senators, with a view to obtaining half-sanction of the Bases Law in the Upper House. In this way, the index now stands at $1,204. In the external market, the shares of Argentine companies that are traded abroad mark the majority of increases of up to 5.9%, in a positive business climate round on Wall Street.
In the fixed income segment, sovereign bonds in dollars Under New York legislation, they are trading with increases along the curve of up to 1.8%, led by the Global 35, while titles in pesos with CER adjustment mark gains of up to 0.9%, led by the TX26.
At the local level, the national government managed to start the session in the Senate, despite the fact that yesterday afternoon two senators from Santa Cruz, whose voting intention was not known, assured that they would not provide a quorum. In this way, it guaranteed quorum.
If the project is approved in the Senate with modifications in relation to the projects with half penalty, The initiatives would return to the Lower House. Regarding the possibilities of being approved, the numbers for the vote are very even, although first the market will closely monitor what the ruling party gives up to obtain approval of the project.
What is happening in the world’s markets
The main actions of Wall Street ended with a positive trend, after a new reading on inflation showed that consumer prices rose less than expected in May and the Federal Reserve kept interest rates stable, but reducing projections for cuts for this year.
He Consumer Price Index (CPI) was stable from the previous month and increased 3.3% year-over-year in May, a slowdown from April’s 0.3% month-on-month increase and 3.4% year-over-year price increase. Both measures exceeded economists’ expectations. On a “core” basis, which excludes the more volatile costs of food and gas, prices in May rose 0.2% from the previous month and 3.4% from last year, lower than the previous figures. April data. Both measures also came out better than analysts’ estimates.
Encouraged by the negotiations for the Bases Law, the Merval, the ADRs and the bonds in dollars are traded with profits
On the other hand, the Federal Reserve held rates steady at multi-decade highs and projected just one rate cut this year, down from three in March. Authorities also projected that core inflation would end the year at 2.8%, also up from March.
However, the Fed highlighted the “modest” progress in inflation. To that end, Chairman Jerome Powell said the Federal Reserve “welcomed” Wednesday’s CPI data, though he noted it would need to see similar future readings to remain confident in inflation progress.
“We now have the ability to approach this issue carefully and that is what we are doing,” Powell said. And he added that the Fed’s plan is not to “wait for things to change and then try to fix them.”
Wall Street
Wall Street’s main indices posted mixed to positive results. Thus, the S&P 500 gained 0.85%; the industrial Dow Jones lost 0.09%; and the technological Nasdaq advanced 1.53%.
Merval
The Merval marked an increase of 1.5%. In this context, the rise of the leading shares was recorded by Banco Supervielle (4.6%); Galicia Financial Group (3.9%); and Sociedad Comercial del Plata (3.1%).
ADRs
On Wall Street, the papers of Argentine firms closed with a majority of positive results. In this way, the increases were recorded by Banco Supervielle (5.9%); Galicia Financial Group (5.5%); and Banco Macro (4.5%).
Bonuses
In the fixed income segment, sovereign bonds in dollars under New York legislation are trading with increases along the curve of up to 1.8%, led by the Global 35, while securities in pesos with CER adjustment mark gains up to 0.9%, led by TX26.
Risk country
The country risk is around 1,496 basis points.
