Argentine bonds consolidate the upward trend and
this Thursday they advance between 2 and 3.5%.
The improvement in quotes comes from greater optimism in the market due to
political and economic signals
that show a more favorable outlook for the government.
Bonds rose up to 3.5%, led by the Global 46.
The Global 230 rose 3.4% and the AL30 2.9%. So far this month they have climbed up to 8% and 54% so far this year. From Portfolio Personal Inversiones (PPI) they note that "it seems that
the bad international climate has moderated
, which appeased the prices of emerging securities." On Wednesday, Argentine sovereign debt in hard currency catapulted between 5% and 5.7%.
With these results, the country risk, which marks the excess cost of Argentine debt, falls to
1,262 points,
a decline of 12.3% in the month and 33.8% in the year.
In the list of the reasons that have been playing in favor of the rebound of Argentine bonds, appears the presentation of Minister
Luis Caputo,
in Washington where he reaffirmed the commitment to fiscal adjustment measures. Added to this is that this week the
fiscal package bill
was submitted to Congress
, which could have the support of the dialogue sector of the opposition and several governors.
The project includes the
restitution of the fourth category of Income Tax
, money laundering, a tax moratorium, a simplified regime for small taxpayers and a consumer tax transparency regime.
On the other hand, "both the new high-frequency data from private consulting firms and wholesale prices, which slowed from 10.2% in February to 5.4% in March (lowest level since March 2023),
validating Caputo's statements that inflation would be collapsing
," notes PPI. They also highlight that since the ballot, "the performance of the Globals is explained in almost 90% by local factors."
Dollars on the decline
In the midst of the largest liquidation of exporters, alternative dollars fell again. In this wheel, the MEP falls 0.5%, to
$1,015,
while the cash with liquid loses 0.3% and reaches
$1,060.
For its part, the blue dollar remains at
$1,030.
An increase in the supply of foreign currency plays in favor of the decline in financial dollars. "The greater supply from exporters in the CCL translated into greater liquidation in the MULC due to the 80/20% blend, allowing the Central Bank to accelerate its purchasing pace." So far this month, the monetary authority has taken
US$ 2,393 million.
"We hope that, with the entry of major currencies, the pace of BCRA purchases will accelerate if the stocks remain unchanged. As things stand, the monetary authority has purchased a record
US$13.8 billion
since Milei took office. , of which
US$ 10,920 million
increased the net reserves based on the measure used by the government," PPI marks.