black day on Wall Street,
The week ends with a black day for Argentine assets listed abroad. This Friday, bonds are down more than 6% and stocks are losing up to 5%.
With this trend, the negative climate that hit bonds yesterday persists and these papers enter the lowest values since the September 2020 redemption.
on this wheel, the worst is the AL53 which falls 6.3% in dollars, followed by Global 46, which lost 5.9%. The AL30, the stock that moves the volume the most, lost 3%. In the year they already reach setbacks of 27%.
This is felt in the alternative dollars: they have started to rise in all their variations: blue scales from one peso to $ 209, the MEP advances by 0.4 pesos $ 218 and the cash with liqui goes up by two pesos, a $ 221.
With this scenario, the country risk continues to rise. This Friday it advances by 0.4% and reaches 2040 basis points. So far this year it has already risen by 21.4%.
Among the stocks, the hardest hit is Mercado Libre, with a drop of 5.7%.
This poor performance is influenced by the uncertainty generated by the Argentine economy, but also by the contagion of the global trend, in bad day for the US market after learning that inflation in May reached 1% and rose to 8.6%, the highest figure in the last forty years.
Wall Street opened this Friday in red and the Dow Jones Industrials loses 2.4%, while the selective S&P 500 falls 2.6%.
The composite index of the Nasdaq market, where the major technology companies are listed, fell 3.2%.
The May inflation rate in the United States, the highest since 1981, was mainly driven by the increase in energy and also, albeit to a lesser extent, due to the increase in housing and food prices.
One consequence of the rise in inflation was the rise in the yield on the US two-year bond, which was more than 2.9% while the 10-year bond also rose to 3.1%, with investors looking for safer places.
“Any hope that the Federal Reserve (Fed) will slow the pace of rate hikes after the June and July meetings now seems to be a long shot. Inflation continues to rear its ugly head and hopes for improvement have vanished againBankrate analyst Greg McBride told CNBC.
AQ
Annabella Quiroga
Source: Clarin
