Max Capital Stock Exchange company came out this Saturday at try to unblock yourself of a message his customers received on Friday and which he assured that there would be a 50% devaluation on Monday. of the weight and that, as a result of this decision, the resignation of Sergio Massa. He said, in a long statement released by Twitter, Linkedin and all social networks, that it was the comment of an employee, individually.
The same content was personally sent to the Minister of Economy, with an excuse, which seems to have had the desired effect:Prior to the press release, Economics had planned to open a summary and send the National Securities Commission to intervene in the company. However, the group’s plea for forgiveness would have calmed the spirits and the incident would be left alone when opening a summary.
“We deeply regret that we have inadvertently participated in spreading a rumor unsubstantiated that does not represent Max Capital Group’s institutional opinion on the economy,” they said.
The company explained that on Friday “a rumor was replicated that there was talk of a devaluation of the official exchange next Monday. Its disclosure to local and foreign customers was the result of a unintentional error by an employee of the company, who acted on his own behalf on the basis of false rumours”.
And he adds: “What was expressed in said report I didn’t have a reliable source of information none, far from it, had been communicated or discussed with government officials”. The note goes a little further and claims that the president of Max Capital Asset ManagementNicholas GuaiaHe had already stated that he believed there would be no devaluation jump this year.
“At Max Capital we are aware that, in an environment like the current one, the reckless reproduction of rumors without foundation increases the wave of rumors and generates greater uncertainty and pressure on exchange rates on the market, with the consequent negative impact on prices of Argentine stocks and bonds, as well as in terms of financial dollars”.
Friday the blue dollar and financials are up between 10 and 12% this week. The parallel concluded the day $442 and cash on hand at $452.
What was the message that reached customers on Friday? “FX DEVALUATION RUMORS: There are VERY strong currency devaluation rumors in the local market on Monday. The BCRA would not allow any importers into the foreign exchange market today, telling them the window will reopen on Monday. This is said to be why President Fernández stepped down from the presidential race today.
And he continues: “The rumor speaks of a 50% devaluation right at the beginning. The question locally is whether Massa will remain in office after that. BCS (blue chip swap) weakened to 453 from 435 yesterday (vs. 405 last Friday) fueled by these rumours.”
Source: Clarin
