How the Merval, ADRs, bonds and country risk are quoted today, July 3

The Buenos Aires stock market fell 2%mainly affected by the sharp decline in the implicit exchange rate. In the fixed-income segment, sovereign bonds in dollars under New York legislation traded with increases along the curve of up to 2%, led by the Global 41, while bonds in pesos with CER adjustment posted increases of up to 1.1%, led by the TX26. Meanwhile, the country risk fell to 1,521 points.

On Wall Street, Argentine stocks were traded with mostly positive results. The gains were recorded by Banco Supervielle (3.7%); Pampa Energía (3.2%); and Edenor (2.8%).

At the local level, the Senate is debating today the opposition’s bill to modify the retirement formula, which was already approved in the House of Representatives with two thirds of the votes (160 in favor, 72 against and 8 abstentions).

The formula implies, according to the Congressional Budget Office (CBO), an increase in spending of 0.43 percentage points of GDPAt the time, President Javier Milei had assured that he would veto projects that were contrary to achieving fiscal balance.

What’s happening in the world markets

Wall Street’s major indexes traded mixed as investors looked to fresh economic data and Federal Reserve minutes for hints of rate cuts in a holiday-shortened session.

The S&P 500 and Nasdaq Composite hit fresh record closes after Jerome Powell touted progress in cooling inflation. That cemented hopes for an interest rate cut even as the Federal Reserve chairman once again signaled a lack of urgency to act.

Sovereign dollar bonds under New York legislation are trading with increases

On the economic front, weak ISM manufacturing data released today is also boosting investor confidence in a rate cut after the US services sector contracted at the fastest pace in four years in June.

Meanwhile, job creation slowed for a third straight month, with the United States adding just 150,000 new private-sector jobs in June, less than the 165,000 that Wall Street expectedWage gains for both stayers and job changers also slowed.

According to the Labor Department, jobless claims for the week ending June 29 rose by 4,000 to 238,000. The data comes just before the release of the key June employment report on Friday.

Wall Street

Wall Street’s main indexes posted mixed results. The S&P 500 gained 0.51%; the Dow Jones industrial index fell 0.06%; and the Nasdaq technology index gained 0.88%.

Merval

The Merval recorded a 2% drop. In this context, the leading stocks fell by Aluar (-5.5%); Transportadora de Gas del Sur (-4.8%); and Banco Macro (-3.7%).

ADRs

On Wall Street, Argentine stocks were traded with mostly positive results. The gains were recorded by Banco Supervielle (3.7%); Pampa Energía (3.2%); and Edenor (2.8%).

Bonds

In the fixed-income segment, sovereign bonds in dollars under New York legislation traded with increases across the curve of up to 2%, led by the Global 41, while CER-adjusted peso bonds posted increases of up to 1.1%, led by the TX26.

Risk country

The country risk is around 1,521 basis points.

 
For Latest Updates Follow us on Google News
 

-

PREV Kino 2937 results for Sunday, July 7th winning numbers of the draws | hyper accumulated | Bye boss | Piglet | ReKino | Chile | Cl | Lbposting | ANSWERS
NEXT Canceling insurance after catastrophes is the norm in the country