Bonds fall, but Argentine stocks on Wall Street soar as high as 6%

In the middle of a hectic day in Argentina e no operation in the square for the party decreed by President Alberto Fernández, Argentine dollar bonds continued to fall in New York and against the tide, Wall Street-listed Argentine stocks have extended the rally over the past few days.

Dollar stocks, which closed in the red on Thursday, continue to decline since opening this Friday. So, cancel the improvements they had accumulated in the last few days, and country risk increased slightly by 0.6% to 2,403 basis points.

Conversely, Argentine stocks listed on Wall Street are up nearly 6% thanks to a better mood on the world stock markets. The Tenaris card brings improvements: Techint company shares are up 35% this year. Meanwhile, YPF is gaining 2.5% and banks are trading in increments of between 3 and 5%.

On Thursday, Argentine businesses had closed in a mixed fashion in an inferior business framework and before a marked caution, amid fears of a global recession affecting emerging markets. However, CER bonds rose strongly, while some Argentine companies on Wall Street performed well.

The S&P Merval had broken even at 136,302.13 units, after accumulating an 11.2% gain in August and setting an all-time intraday high of 145,859.42 units on Monday.

As regards the bond sector, CER securities stood out in the last day, culminating in strong increases. Hence, inflation-linked bonds closed with widespread rises. The most important: the PR13 (+ 3.9%), the TX26 (+ 3.4%) and the TX28 (+ 3.3%).

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