On Wall Street, the YPF rises after presenting a better balance
On a Thursday that promises to be loaded with definitions for the local market, dollar bonds were advanced with increases in the opening of the markets. July inflation data will be released this Thursday, which City hopes will not drop below 8%. It will also be the first race debt in the market, with Sergio Massa at the helm of the Ministry of Economy. And it is to be expected what the Central Bank will decide with the reference rate.
Prior to the opening of the local stock market, dollar bonds rose up to 2.5% in the case of Global 2030, in line with the improvement in the prices of all emerging debt. With these prices, the country risk dropped to 2,428 points.
“Pending inflation data that would be higher than 7.5% (accompanied by a probable new 500 basis point interest rate hike), markets open today with rising bonds accompanying all emerging markets benefiting from better market expectations regarding the FED interest rate, “underlines a report by Aurum Valores.
However, doubts persist in the market: “The deputy minister is still unknown, and, therefore, not even the macroeconomic plan. AndThe BCRA refuses to get the currency flowing faster, which means that the foreign exchange market remains partially frozen. The reserves are not growing as promised and for now the only measure has been increase the financial attractiveness of heavy household debt to lengthen heavy debt maturities, “they listed in Delphos.
On Wall Street, Argentine equities started the day higher, withn YPF in the lead, which grew by more than 5%. The oil company presented its results for the second quarter of 2022 and reported a profit of US $ 798 million, comparable to the loss of US $ 492 million it suffered in the same period of the previous year.
“The company’s total revenue grew 34 percent from the previous quarter and up 45 percent year-on-year to approximately $ 4.855 million,” IOL analysts noted.
NEITHER
Ana Chiara Pedotti
Source: Clarin
