Debt securities are still in the red and country risk hits a record 2,654 points

Dollar bonds Argentine debt which are listed overseas have stopped their downfall, however remain red.

But the country risks – which usually has a certain delay in showing the performance of the securities – up 3.1% to 2,654 basis points.

The JP Morgan indicator that measures the overrate that Argentine debt has to pay It is at the highest level in the last two years. To find a higher value, refer to May 28, 2020, when it reached 2,728 points, before the debt swap.

Stocks fall this Wednesday about 1%down slightly from the drop to 14% on Tuesday, the first day of trading after the change of Minister of Economy, as Monday 4 July was a public holiday in the United States.

The Global 30 was down 14.4% on Tuesday and Argentine stocks listed on Wall Street fell as much as 7% on a day when Dow Jones himself closed lower. This Wednesday the Global returns 0.50% and is trading at USD 20.60. So far this year there are bonuses that drop to 40%.

Both Argentine bonds and equities had limited movement on Monday following the hectic weekend when Martín Guzmán stepped down and Silvina Batakis was named. but Tuesday lost up to 14% and country risk jumped 8.4% to close 2574 basis points.

Some of the Argentine stocks that are having movement in the US premarket show a slight rebound. This is the case of YPF and Banco Macro, which rose by 0.60%.

As for the foreign exchange market, after the jump on Monday, the blue dollar relapsed on Tuesday 8 peso and ended a $ 252. A similar path followed the financial dollars, which fell around 2.5% after Monday’s rally.

With this downward trend, the blue dollar has given up 28 pesos from its peak of 280 dollars at the opening of the market on Monday.

For analysts, the foreign exchange market reaction on Monday reflects the spike of uncertainty across the city as well caused to overcoming, a disproportionate leap that now tries to accommodate.

“Much of the overreaction and emerging uncertainties stem from the lack of political coordination and cohesion in the economic agenda. It’s not about names, but about institutions and agreements, “said Martín Calveira, researcher at the IAE Business School, business school of the Universidad Austral.

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