On Wall Street, Argentine equities and bonds maintain their highs, in line with Dow Jones jumping 2.7% this Tuesday continuing with the upward trend. The Nasdaq (3.2%) and the S&P 500 (/ 2.8%) also rose.
This new trend cut your losses which were seen last week, month and quarter by fears of a possible global recession.
The shot in the North American market pushes Argentine bonds into dollars, up to 2.5% (Overall 29). And they also give air to Argentine stocks listed in New York: Mercado Libre grows by 7.1% and Ternium by 4% and YPF by 3.7%.
The S&P Merval, in Buenos Aires, rises by 1.7% after 4.3% on Monday.
Alternate dollars, on the other hand, remain slightly down, between 0.1 and 0.5%. The MEP dollar falls to $ 207 and cash with liquidity to $ 306.74.
country risk down 0.9% to 2,679 basis points.
Up on Wall Street
US government bond and dollar yields plummeted in recent days after both hit multi-year highs, as oil prices failed to catch up on recent losses, easing inflation concerns.
Additionally, some investors continue to hope that weaker-than-expected US economic data releases will moderate the Federal Reserve’s (Fed) aggressive interest rate hike cycle, despite central bank officials’ insistence to the contrary.
“The bear markets aren’t going in a straight line and we’re not done going down yet,” PineBridge Investments portfolio manager Hani Redha told the Wall Street Journal. “We have been in a bear market all year and have seen them very typical bear market rallies between. this is the level of the course“, He added.
In other markets, US oil rose to $ 85.95 a barrel, the yield on 10-year US Treasuries fell to 3.641%, gold rose to $ 1,717.6 an ounce, and the dollar rose to $ 1,717.6 an ounce. lost ground against the euro, with a variation of 0.9921.
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Source: Clarin
