Global investors, cooperative at a new Fed meeting
Since the local market is closed for the May 25 holiday, Argentina stocks and bonds are breathing from the hand of a better mood in global markets.
This Wednesday, major Wall Street indices traded higher, including investors are attentive to new minutes of the Federal Reserve that they can clear the way which will be taken over by the financial authority in the short term.
With the technological lead Nasdaq, which gained 1% after noon, New York -listed shares showed improvements.
This is what gave him boost in Argentina papersto earn up to almost 4% as in the case of Despegar. LThe digital travel agency is accumulating red more than 18% so far this month. Second, Mercado Libre’s role led the rise, with an increase of 3.5%,
Within the segment of technological companies of Argentine origin, the one that continues to be punished is Globant, which despite the recovery of its peers, lost 1.7% and added a decrease of more than 42% since the beginning of the year.
Although major indices seem to be improving this Wednesday, the global market is running cautiously. Luke Yatche, from Liebre Capital, pointed out: “It seems premature to risk that variable income (components) has ended in a downward cycle, because the global economy must accentuate the slowdown in activity ”.
“That’s probably it we are not too far from the inflationary peak (in the United States) and the beginning of a prolonged slowdown, a factor that investors may notice. In this framework, with the VIX (volatility index) close to 30 points, we choose to be careful nasa equity american and meditate low asset only high-quality paper with low debt levels, good money generation and the ability to translate inflation into prices, ”the specialist added.
Meanwhile, Argentina’s bonds improved slightly, leading to the country’s risk measured by JP Morgan bank to show a slight decline. However, the indicator remains above the 1,900 point barrier and displayed around 1,929 units
“The political noise and macro alarms explain debt performance. The slowdown in fiscal numbers in April, along with increased financial assistance from the Central Bank in recent weeks and a limited accumulation of foreign currency, raise a few questions“, explained PPI analysts.
NE
Source: Clarin
