The CGT’s forceful measure against the omnibus law and Javier Milei’s policy had no impact on the markets. The bullish rally in Argentine bonds and stocks continued on Wednesday and the blue dollar remained at the level $1,255 who had played on Tuesday.
Among financial dollars, liquidity rises 1%. $1,300, just below the $1,312 reached last Monday.
The MEP dollar rebounds 0.3% and reaches $1,237. In this way, financial dollars accumulate a 24% increase in the case of the MEP and 33% for liquid cash so far this month.
Insteadblue is up 25% year to date. The gap compared to the wholesale dollar, today at 822.4 dollars, is 53%, while compared to liquidity it reaches 58%.
The opinion laboriously obtained by the government for the bus law seems to weigh more on the minds of the operators than the effect of the strike.
Thus, among the Argentine assets, the good performance of Merval, which is in this group, was maintained up by 3.4% and racks up a 34% gain in pesos so far this year. In dollar terms, the increase since January 2 is only 0.6%.
In New York almost all Argentine ADRs moved upwards with peaks of 4.1% for YPF and Banco Macro. Good results also for dollar bonds, with the AL29 up by 3.3%.
The Central Bank bought $164 million for a total of $2,716 million in January. Gross reserves already reach 24,847 million dollars, while net reserves are negative due to 8 billion dollars.
“Aside from the return of some importers at this stage, the BCRA continues to be successful in extending the unbridled shopping daily which allows him to continue recovering the reserves, which are essential while awaiting the liquidation of the large harvest in a few months. With parliamentary progress for the Omnibus Bill on the table, financial dollars are extending the calmest of recent rounds, which came after a surge to a 60% gap, although it would soon add another challenge – to very negative real rates And creeping peg 2% – what will be the decrease in the demand for money,” said economist Gustavo Ber.
Source: Clarin
