Los Bonds in dollars rise for third consecutive wheel this Thursday, May 8, but Argentine shares rise up to 6% in Wall Street. It should be noted that, on the previous day, the Fed decided to maintain interest rates at the current level and, at the local level, the official dollar suffered a strong decrease, among other things, for the liquidation of the field harvest.
Wednesday, the S&P Merval falls 2.2% to 2,043,732.12 which adds to the previous decline of 3.3%, motivated by the decrease in the exchange rate. The main losses are for Metrogas (-2,4%) y Silver Commercial Society (-2,4%).
As for ADRsthese quote mixed, while the papers that go up are are Tenaris y Edenor with 2.2% and 0.9%, respectively, within the actions what they do most are Free market y Globant with 7.6% and 5.8%, respectively. Those who fall, as long as they are, YPF (-1,9%) y Edenor (-0,3%).
As for Bonds in dollarsafter opening upwards in the foreign square, they quote with a majority of rises at the local level. Thus, the ones who advance the most are the Global 2046 (+2.2%), the Global 2035 (+0.9%), and the Bonar 2030 (+0.5%). As for the country riskindex that measures the J.P Morgan Improves 742 basic points.
What the City looks: what happened to the dollar futures
“We cannot rule out that the government may have intervened in the futures market yesterday in order to accompany the movement of the spot dollar. In this way, it would be able to attenuate any type of future devaluation expectation, validating the idea that the official dollar approaches the band’s floor and adjusting the implicit rates to reestablish the attractiveness of the carry trade, “they said from PPI.
What happened was that The dollar futures collapsed the MiRpñes. All contracts experienced strong casualties (between 5.7% and 9.7%) but, the longest -That usually concentrate lower volume operated- They were those who fell. Specifically, the May contract dropped 5.7%, June 6.1%and July 6.6%.
“Something to highlight is the jump in the volume operated: it is Au $ S4.261 million yesterday amounted to From US $ 761 million on 06/05, US $ 485 million on 05/05 and an average of US $ 1,294 million in April. It was the highest operated amount throughout the Milei era. The curious thing about this escalation is that it did not occur in the shortest contracts, which usually monopolize the largest volume operated, but in those that are not frequently operated, “they expanded from PPI.
