Argentine stocks and dollar bonds soar for the fourth consecutive round: what’s behind the rebound

For the fourth consecutive day, Argentine financial assets they move upwards abroad and this extends to the movements of the local market. While external markets move with extreme caution, both Argentine stocks and bonds experience a week of rebounds.

Government stocks, which jumped up to 5% on Wednesday, up to 1.4%, what you it takes away pressure from the country risk, which drops to 2,333 pointsa level similar to what this indicator reached in early July, before the resignation of Martín Guzmán and the subsequent weight run.

At the same time, on Wall Street the newspapers of Argentine companies rise again to 3.8%. So far this month, there are already dollar stocks shows earnings close to 50%such as the case of YPF, which recorded a real increase after the quarterly presentation of the results.

What’s behind this financial summer? A combination of “foreign aid”, better economic projections, political news and opportunity buying, starting in outlet prices who has lived so long bonds such as the cards of Argentine companies could explain this recovery.

With this week’s uploads, almost all dollar bonds have written off losses accumulated in August and even returned to pre-crisis levels caused by the resignation of former Economy Minister, Martín Guzmán.

“The ties have already recovered all that was lost after Guzmán’s departurebut are still well below the levels of the pre-weight debt crisis in early June, stocks have already recovered all they have lost since (but are still below their April highs) and the CCL consolidates around $ 300 “Aurum Valores analysts indicated in a report.

“While still far from returning to debut prices, sovereign debt has taken a step in the right direction this weekeven with the emerging universe showing signs of weakness in recent days, “they explained in PPI.” Despite yesterday’s slight rise of + 0.16%, the BBG Emerging Market index has slowed the pace of recovery and is back on track. rossi in their quarterly performance, down -1.49% “.

YN