Prior to the market opening, Argentine bonds were trading in the red on Wall Street. AP photo
Amid expectations for new government announcements on the foreign exchange market and with the blue dollar already exceeding $ 320 on Thursday, Argentine assets suffer. a new autumn. Since before the markets opened, both Wall Street-listed stocks and dollar bonds they move in red. Government bonds recorded drops between 1 and 3%.
The maximum tension that was experienced in the local market on Wednesday after the announcement of several government officials changes to the purchase and sale of tourism dollarswhich have not yet been detailed, there has been a new decline in dollar bonds and a new peak in the parallel exchange rate.
“The only stock that grew slightly in the overseas market was the GD30, that is the most used to buy dollar cash with liqui (other New York law bonds overseas closed lower), “they explained on Aurum Valores. The exchange rate used by companies to dollarize soared to $ 308 on Wednesday, but remained. far behind the rise of the blue dollar.
“Dollar sovereign bonds fell again, this time by 0.6%, denoting the lack of interest in the Argentine risk. If we look at the annual performance of these bonds, we can see 40% retreat in hard currency. representing a true punishment for investors entered the restructuringCohen analysts pointed out.
Meanwhile, the shares have been in poor performance since Wednesday. “The Argentine stock index manages to build up at a slow and calm pace, but eventuallyentity every drop is sensational and eliminates the progress of several days, “they stated on PPI.
Demand for dollarization caused pesos debt to falter again in the previous one and bond prices have skyrocketed tied to the dollar, linked to a future devaluation of the official exchange rate. “The request for coverage does not stop. Barring positive news, we believe that this trend will continue in the coming days“they told Delphos.
NEITHER
Source: Clarin
