The investment fund Templeton made the decision to sell a good part of the Bontes 2026 holding that it had accumulated since Macri’s management. They are titles that adjust by fixed rate and have a rate of return of 92.68%. after sale, transformed the pesos into dollars in cash with liquidation to transfer them abroad and increased its price by $9.84 (+3.5%) to $293.97. The MEP trailed far behind, rising $6.76 (+2.4%) to $288.13.
The “blue” was not fully reached by this movement and improved $1 to $2.93. The wholesale dollar rose 26 cents to $135.82. and in the week, when two wheels are missing, it accumulates a rise of $1.21 against $1.67 for the whole of last week.
“Two days ago the alternative dollars began to rise because funds from abroad are coming out of local bonds and buying dollars to transfer abroad. This can be seen in the amount of BYMA’s business and in the MAE (Electronic Open Market) that operated more than BYMA. At the tables I saw a lot of demand for cable (dollar to turn abroad). Corporate and provincial bonds in dollars marked another rhythm; They’re still pretty solid. They were not affected by the profit taking that sovereign bonds have. It is good that the lack of liquidity affects provincial bonds, because with a small amount they can be raised. Another move I noticed is that the Central Bank delayed the devaluation of the official dollar and that slowed bond coverage dollar linked (tied to the evolution of the price of the official dollar) because the chances of devaluation were removed, “he said. Nicholas Rivas, trader of Buenos Aires Securities SA (BAVSA).
Reserves rose USD 220 million to 37,122 million due to the recovery of the price of the yuanfor the purchase of USD 20 million from the Central Bank in the wholesale market and the strengthening of the main currencies against the dollar.
the financial analyst Christian Buteler, also noted that for days there has been a higher sale of bonds in pesos that “the market knows that when they leave these assets at a fixed rate it is to go to the dollar market because they are in the hands of foreigners. They are bonds that they have since the time of “Toto” Caputo. In addition, there is a situation that should not be overlooked. The market had a good sign when the rumor circulated that Massa was taking office. The dollar responded to the rumor with declines. But since the concrete measures are still missing and only the announcements remained, part of the initial confidence was lost. Bonds are out of this situation because they are falling across the region. In Argentina they rose more strongly and now they fall more strongly, because it is a small market”.
Argentina’s country risk increased 37 units (+1.1%) to 2,446 basis points. They had started the day with gains. In Brazil, the country risk had a similar fall.
$2,706 million were traded on the Stock Exchange, implying a 40% growth in volume. The S&P Merval, the index of the leading stocks, rose 4.38% but measured in dollars the rise was reduced to 0.9%. The most outstanding papers had to do with the rise of oil and gas in the world. Southern Gas Carrier increased 7.56%, followed by Gas del Norte carrier with 7.04% e YPF con 6,56%.
The ADR’s -share holding certificates on the New York Stock Exchange- operated a reduced amount of $5,801 million. The best happened by YPF (+4,6%), Pampa Energy (+4,3%) y Central Puerto (+4%).
Today’s session will continue to be tied to the evolution of the world’s markets, which could not overcome the effects of the minutes issued by the Federal Reserve two days ago. The fact that in the United States they discuss whether or not there is a recession is auspicious because it divides the waters and there are those who believe in the growth potential of North American stocks. The less risk is feared in the world, the easier it will be for Argentina to get the dollars it needs.
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