The week
ended in the red
for Argentine assets, with dollar bonds falling by more than 4%, while the shares of Argentine companies listed on Wall Street fell by more than 7%.
For its part, in the Buenos Aires stock market, the Merval showed
a drop of 3.2%.
One of the main debt titles, the AL29 yielded 4.3% and traded at
26.58 dollars
, a loss of 18.4% so far in February.
The rest of the titles that make up the main panel of Argentine bonds in dollars fell between 3% and 5%.
Country risk, the JP Morgan indicator that measures the overrate of Argentine debt, rose 3.3% to
2,123 basis points
, the highest level since January 3.
So far this month,
country risk has lost 16.6%
, although it still registers a favorable balance so far this year of 4.1%, as a result of the good performance that bonds had in January.
In this context, the measure announced by Minister Sergio Massa to allocate
US$ 1,000 million
to the repurchase of bonds did not help either to improve the parities of the titles or to lower the country risk.
Today, except for the Global 30, which is trading at US$31,
the main debt securities fail to break the ceiling of US$30,
which shows the difficulties of the G
government to restore investor confidence.
The bad performance of the bonds extended this Friday to shares that so far this year had been holding up better and this time fell sharply.
The worst part was taken by the banks, with
Supervielle falling 9.1%
, followed by Macro with 5.5% and BBVA with 4.1%.
The only exceptions in a totally red panel were Globant, which rose 7%, and Central Puerto, which recovered 0.2%.
Like banks,
energy companies were among the worst performers
.
YPF lost 4%, while Transportadora Gas del Sur fell 4.1% and Pampa Energía, 2%.
The Merval lost 3.2%
and moved in mirror image with the ADRs with all the main shares down, led by Supervielle with a decline of 5.6%.
The loss of Argentine assets
was part of a negative day for global markets,
with the Dow Jones opening lower and closing at 0.2%, while the Nasdaq lost 0.7%.
The poor performance of Argentine assets is a consequence of
global risk aversion
, after the sharp rise in US rates in the face of more lasting inflation expectations.
"The more cautious tone is spreading on Wall Street
, given concerns about more
hawkish
signals from the Federal Reserve after the latest inflation data, which has a negative impact on domestic assets since it also adds political and economic tensions," said the economist Gustavo Ber.
"External weakness infects domestic assets,
including ADRs that have been resisting profit-taking, unlike bonds that have been heavier for some time after having tested the upper parities of the range," said the bank. analyst.
stable dollar
The blue dollar was stable at
$377
, while financial dollars barely moved.
The MEP fell 0.6% to $
355.6
while cash with liquid remained at
$369.
The wholesale dollar corrected 0.2% and reached
$193.2,
leaving the retailer on the verge of $200 without taxes and surcharges.
The card dollar, for foreign currency consumption below 300 dollars, was quoted at
$348.6,
while the Qatar dollar, for expenses above that amount,
was close to $400.
AQ
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