The major Wall Street indices are trading lower this Monday
Argentine bonds are starting the week on the wrong foot, despite the signal that Silvina Batakis tried to give the market on Monday. In a further widespread decline in global markets, Securities resulting from Martín Guzmán’s debt swap in 2020 lost up to 0.5% and country risk rises again to 2,662 points.
On Wall Street, amid the steep falls of its main indices, Argentine stocks fell 6.6%, with Mercado Libre in the lead, suffering the 2% loss of the Nasdaq technology index. The negative effect is felt in the square of the club, where the The Merval index lost 2.6%, after closing a week of positive returns on Friday.
In the pesos debt market, with the Central Bank firm in its strategy of buying bonds to avoid further price falls, government bonds are trading positive. Council says the monetary authority has already spent more than $ 1 billion on this company. The Inflation-linked bond maturing in 2026 rises by more than 22% since the beginning of the month, against almost all financial variables.
“The announced measures did not bring any surprises and this helps to avoid further deepening the noise of the current. However, we believe they are not enough to correct the current imbalances. Furthermore, there is a lack of details on the practical implementation of many of these measures to understand the magnitude of their effect on balance sheet numbers, “they said in PPI.
“The market asks the new minister for certainties and concrete economic policies. The mere declaration of intent to comply with the IMF is not enough for an incredulous market, which will take note, “they added.
For his part, Pablo Repetto, of Aurum Valores, said: “the announcements are in line with what Guzmán was doing, so for now we have only a reaffirmation of those policies, through a change of name”.
YN
Source: Clarin
