02/27/2020 - 18:36
- Clarín.com
- Economy
The markets faced another black day on Thursday, with widespread falls in world stock exchanges in the wake of fears that the impact of the coronavirus on the global economy awakens.
Argentina also received the coup, boosted by local news that made bonds fall and consequently raise the country risk .
The JP Morgan indicator - which measures the overpayment that the country pays to borrow in relation to the US Treasury bonds - climbed almost 6% this morning to 2228 basis points , the highest record since the beginning of the presidency of Alberto Fernández. Finally, it cut a little and finished with a rise of 3.7% to 2184 units.
Dollar bonds all ended in red with reversals of up to 2.2%. The balance was mixed between the titles in pesos but the losses predominated, with losses of up to 2%.
The Merval, which had already yielded 5.8% yesterday, sank 2.8%, but there were falls of up to 8% like the one recorded by Ternium . Thus, the indicator accumulates in the month a decrease of 11.8% and 15.1% so far this year. The ADRs, the local shares listed on Wall Street, showed a majority of reds, with skids of up to 6.4%, as was the case with Edenor.
On a global level, the main European exchanges fell by around 3.5% due to the expansion of the coronavirus in that continent. The Dow Jones collapsed 4.4% and is on its way to closing its worst week since the 2008 financial crisis.
Locally, investors reacted negatively to two announcements that met on Wednesday afternoon. The first was the primary fiscal deficit of January , which reached $ 3,766 million, compared to a surplus of $ 16,658 million in the same month of 2019.
At the same time the financial deficit - which computes the payment of interest on the debt - reached $ 90,818 million. These numbers show the difficulties that the Government has in order to order public accounts in the midst of an economy that is still in recession.
To this was added that a new placement of Treasury Bills in pesos for $ 2,358 million and also an exchange of the AF20 bond for a total amount of $ 6,864 million. In this way, between this operation and that of 20 days ago, they managed to exchange 18% of this dual bond that had $ 96,000 million of overdue capital and whose payment was postponed to September.
For the market, yesterday's result was a little pleased with the strong debt maturities that are coming and the lack of concrete progress in terms of restructuring.
The dollar remains unchanged with the retailer at $ 63.96 in the Central Bank average while the monetary entity barely allowed the wholesaler to slide five cents to $ 62.14, decoupling from the devaluation of the region's currencies . Alternative quotes almost did not move: the "dollar bag" ended at $ 79.56 and the Cash with Liquidation, at $ 80.56
