No menu items!

Dollar bonds start lower in a week full of rumors

Share This Post

- Advertisement -

Dollar bonds start lower in a week full of rumors

On Wall Street the recovery of Argentine companies continues. (Photo AP / Seth Wenig, file)

- Advertisement -

Although Argentine businesses have seen an improvement in the past week, two days from the end of the month, come down again. After a weekend plagued by rumors about the next steps of the “Massa Plan” to stabilize the economy and amid growing political tensionsdollar bonds opened on Monday in the red.

- Advertisement -

With this performance, country risk rises again just above the 2,400 point barrier and is found in the 2,403 units.

in reverse, Wall Street-listed Argentine stocks continue their mini-rally. YPF’s ADR remains in the lead, in increments of more than 6%, which have led the newspaper to earn more than 56% in dollars so far this month. The cards of Tenaris and Corporación América complete the podium of those that rose the most at the beginning of the week.

With this external supportthe local stock market gains 1% and gains over 16% in the first weeks of August. The recovery could suffer if political noise grows.

“Over the weekend, rumors spread about the alleged” secret plan “that Rubinstein allegedly implemented. Reportedly, the battery of measures it would include a 50% devaluation, tax adjustment (raise rates and remove subsidies) and changes to the current trading structure, among other issues. However, so far there are more rumors than certainties“PPI analysts pointed out in a report.

“Going forward, it is important to take into account all kinds of signals that come from the political scene and that can shape the future economic context to achieve greater predictability. From the international arena, it must be considered that the noise generated by the hawk sets the tone of the speech. by Jerome Powell will continue to affect local equity as long as it punishes the international, “they added.

YN

Source: Clarin

- Advertisement -

Related Posts