2023-06-27 14:55:36
Everything went up: from Actionsboth those of the Buenos Aires Stock Exchange and those of Argentine companies listed on Wall Street, such as debt bonds.
Although it is said that Argentine sovereign bonds are still at excessively low prices for what should correspond to the Argentine economy, yesterday they rose by more than 7% in the case of Globals, the bonds that are governed by foreign law. Country risk downis on its way to pierce the line of 2,000 points.
What is the reason for this rally in Argentine assets, which had actually started a few weeks earlier? The macroeconomic uncertainty It is far from dimming but the definition of the candidate lists was music to the ears of the market.
Zabaleta: “Massa is one of the most talented of our generation”
Massa As a candidate for the unity of the ruling party, he represents a much more pro-market option than any of the alternatives with representatives of hard Kirchnerism, as was the case with Pedro’s Wado.
At the same time, moderate competition without aggression within Together for Change is also a positive sign for investors, because it removes their other fear: the advance of Javier Miley. The uncertainty generated by the libertarian candidate, with his uncertain plan dollarizerremoves attractiveness on Argentine assets.
Sergio Massa, minister and candidate
In this way, the best possible options are seen from the market, which combined with the low prices pushed the rally that nobody dares to anticipate how far it will go.
JL
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#markets #gave #gift #Massa