2023-06-05 15:20:42
In the local stock and bond market, there are expectations as to whether or not the bull market will continue and how the interest rates of the United States Federal Reserve (FED) will impact. For this reason, we contact Jose Pavesa of Bull Market who gave details of the current market.
Wall Street Stocks
“May was a month of strong increases in the United States, especially in the technology sector that boosted the SPY“. “We saw an important rally with which, I think in the short term we are going to see profit taking and correction, because practically, the shares are at high levels”. In addition, the specialist said that this is not the time to enter US shares at this time.
In this sense, the interviewee warned that, “Next week is the FED meeting and there is a greater chance that the rate will not increase it and will pause this rate hike that has been going on for a year now.“.
The prospects of the local stock market
“I think that the dollar for the next 15 days can be maintained at these levels, until there is news of the agreement with the IMF that is being recalibrated or at least until next week’s inflation index comes out”. “There may be calm in the financial dollar market”, due to the renewal of the Swap with China, which gives the Government the possibility of intervening in the market with a higher volume of reserves, explained the interviewee.
Then, regarding local stocks and bonds, Pavesa explained that “What happened in the PASO 2019 where we had never-before-seen crashes is very present, I don’t think it will happen again but there are always sudden movements”. “Whoever does not want to be exposed to that, it is best to be in dollars, short negotiable obligations, dollars in a surety.” Now, “If you want, you can play it a little more, you can do it in shares or interest rates in pesos, but it is very played.”
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