The financial market continues convulsiveafter the surge of the blue dollar on Tuesday after the rumors about the farewell of Economy Minister Sergio Massa.
The versions about an alleged replacement of Massa with Antonio Aracre, former CEO of Syngenta, have provoked the resignation of the presidential adviser amid cross accusations about who was the one who circulated the rumor.
In the midst of this official internship, The blue dollar advanced by 3 pesos, to 422 dollars, and the MEP or stock market dollar is trading $415.77, below the parallel but 1.7% higher than on Tuesday. Meanwhile, cash on cash (used by companies to get dollars out of the country through the buying and selling of bonds and stocks) climbed 1% to $430.04.
While the dollars seem to be advancing in small steps this Wednesday, instead of the leaps they made on Monday and Tuesday, country risk has woken up and it rose 4% to 2,572 basis points. And he higher value since the beginning of November last year.
Country risk is a reflection of the decline in bonds of up to 7% in the case of the Global 35, but which is widespread, with averages between 3 and 5%.
The cancellation of the bonds is also given after the opinion of the UBA on the impact of the bond swap in Anses, in which, while giving its approval, it warns about the risks of moving from debt with the public to the private sector and the high costs.
The Argentine stocks were also affected. On Wall Street they lose up to 6%. The fall is led by the banks, but YPF, Telecom, TGS and Edenor have also fallen, among others.
In Buenos Aires you can also see the reds. Merval loses 2.2%.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.