Bonds in dollars rebounded up to 6.5% and S&P Merval scored the seventh rise in 8 rounds

Under a negative scenario in the reference markets, titles in hard currency climbed to more than 6%, among which those of the Global 2035 (+6.4%); of the Global 2046 (+4.1%); and Bonar 2041 (+3.6%).

The country risk prepared by the JP. Morgan bank fell two units to 2,903 pointsafter marking a historical maximum level of 2,976 units the day before.

batakis met on Tuesday with Entrepreneurs and investment funds in the USa day after the managing director of the International Monetary Fund (IMF), Kristalina Georgiev, pointed out that the The agency values ​​the official’s “initial efforts” to strengthen the country’s fiscal sustainability.

“Like a Technocrat” that was the look of the businessmen who had breakfast with the minister this morning. Among the breakfast participants were representatives of international funds and Wall Street investment banks such as Barclays, Goldman Sachs, Citibank, Goldentree and VR Capital Group, Nonsense, Bank of America, Citibank, Santander Investments, Puerto de Piedra, among others.

Investors and analysts of the main Wall Street banks “They were interested in the degree of political support that the new minister has,” commented from SBS.

“There has been little news since Batakis’ trip to Washington,” said Portfolio Personal Investments and pointed out that “the incredulous market looks for concrete measures on the part of the Government rather than signs”.

For your part. dollar-linked sovereign bonds fell again, posting drops of 1% on average, with good volume on TV24, which lost 0.8%.

Meanwhile, CER-adjusted debt traded mixed, with short Leceres demanded but long Leceres offered. The Bonceres in turn showed demand throughout the entire curve.

Let us remember that the Ministry of Economy will tender Bonds and Treasury Bills this Wednesday in search of local financing, for about $266.1 billion. Operators consider the auction to be a new test for the portfolio, since it is estimated that the vast majority of maturities are in the hands of private agents.

S&P Merval and ADRs

The Buenos Aires bag it operated with volatility and slightly increased an expectant external context before the monetary policy decision that the US Federal Reserve (Fed) will take.

The S&P Merval Stock Index it remained in positive territory, improving 0.4%, to a close of 120,038.38 points, after reaching a historic record level in pesos of 121,436.69 units in the first trades. The leading panel accumulates a 12.2% improvement in four business sessions.

were negotiated $11,274 million in variable incomehighlighting the performance of Cresud (+6.1%) and Holcim (+3.3%).

“The main index is technically in an overbought zone, given that the relative strength indicator (RSI) is above 80 points and should already reverse the trend”said Research for Traders.

The S&PMerval measured in dollars, for its part, fell more than 12% in the year and stood at 365.81, far from its all-time high of January 2018, of 1,802.92 points.

For their part, the ADRs of Argentine companies on Wall Street closed unevenly, with rises led by View (+6.1%); Cresud (+4.4%); Telecommunications (+2%); and IRSA (+2%). On the other hand, declines were led by Take off (-6%); Bioceres (-4.8%); and Free Market (-4.6%).

After the close of the market, the shares of Miguel Galuccio’s oil company they flew 9% in the Wall Street after marketafter reporting that posted an adjusted net profit of $82.3 million in the second quarter, compared to profit of $17.5 million reported in the same period of 2021.

Vista, Argentina’s third largest oil producer, announced that earnings before taxes, interest, depreciation and amortization (EBITDA) were $202.1 million, a year-over-year increase of 98%. In the period April-June, Vista’s oil production grew 17% year-on-year and hydrocarbons 12%. The oil company reported revenue of 294.3 million dollars, 78% more than in the second quarter of 2021 “driven by the increase in production and realized oil prices,” he explained.

In the US, the July Consumer Confidence was known, which showed 95.7 versus 97 expected, the lowest level since February 2021. Thus, in the run-up to the Fed’s rate decision this Wednesday (a rise of 75 basis points is discounted) the main stock indices closed in negative, with the S&P 500 falling 1.2% and the Nasdaq 100 losing one 1.9%.

For its part, the 10-year bond rate remained unchanged at 2.8%, while WTI oil fell 1.5% to US$95.25.

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