November 30, 2023

Brighton Journal

Complete News World

Country risk hit eighth consecutive high

Country risk hit eighth consecutive high

The Argentina Stocks and Bonds By Tuesday, September 26, they had not found an apartment They lost ground againIn a framework of maximum discretion a Uncertain result in October presidential electionAnd a front A global climate of growing risk aversion.

Stock code S&P Merval from BYMA scored his sixth consecutive fall, 1% loss, 543,252.12 units, In a session with the trend of its external counterparts. The leading group lost 6.3% in the previous five trading sessions.

The day’s decline was led by shares of Macro Banking (-3.3%); telecommunication (-2.6%); And Silver business (-2.4%).

“September ends with Merval punished by dollar,” said Santiago Abdala of Portfolio Personal Inversiones. Through this Tuesday, the stock index has accumulated a monthly loss of 16.3% in dollars (CCL).

Another operator pointed out ““Investors are leaning cautiously at this delicate stage in their quest to protect the previous gains of ‘selection trading’.”

Amid tied results in recent primaries to select candidates, the libertarian Javier Miele, The proponent of dollarization and closure of the central bank (BCRA) leads the polls, followed by the Economy Minister and the official candidate, Sergio Massa, Weight protector, and enemy Patricia Bullrich, It points to a binary.

The Political uncertainty adds to a A complex economic panorama, Where inflammation can More than 150% This year, the BCRA has some reserves and economic measures that seek to mitigate the decline in purchasing power. “Recent measures taken by the government (to free up pockets) in the days after the primary elections add to the fiscal pressure originally planned.” Consultancy firm ACM warned.

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Argentine stocks on Wall Street

Shares of Argentine companies on Wall Street closed sharply lower. Led by Telecom (-3.7%); Central Puerto (-3.6%); and Grupo Financiero Galicia (-3.2%).

Against this backdrop, the S&P500 lost 1.5%, capping a 5.2% decline so far this month. The Returns 10-year Treasuries held their multi-year highs, Investors are still digesting the long-term prospects of higher interest rates and the economic consequences. Adding to these market concerns was the possibility of a partial US government shutdown on Sunday, which ratings agency Moody’s said would be “negative for the credit profile”.

Mega Cap Growth Stocks, Etc Apple, Microsoft, Meta Platforms, and Tesla lost between 0.8% and 1.2%.

Besides, The 10-year bond rate was steady at 4.53%. While rate It has risen to 4.68% over 30 years.

Bonds with dollar and country risk

In fixed income category, Dollar-denominated sovereign bonds closed mixed on the Buenos Aires stock market, but ended with the biggest losses in New York. Suffered from high global risk aversion.

Thus, country risk for JP Morgan I went upFor four units, 2,376 basis points. This is his eighth consecutive improvement.

Among the peso-denominated headlines, dollar-pegged sovereigns were sellers and averaged 1% down with good sound on TV24. Duals are also on offer and fell 0.8%, distributed across the volume curve.

Meanwhile, the The CER segment fell an average of 0.3% in the short and medium segments of the curve, but lost an average of 2.1% in the long segment, which continues to suffer the most.

The Treasury will on Wednesday tender bonds to face maturity of one million dollars, mainly concentrated in ‘TDS23’, whose holdings are estimated to be entirely in private hands. The economy is looking to raise $62.5 billion tomorrow through auctions From Lelight to October, two lasers (X18E4 and the new X20F4), two boncers (T6X4 and T4X4) and a double bonus TDJ24.

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