While in Argentina the markets remain closed
due to the
caravan holiday
l,
in the United States Argentine bonds fall
to 3.5%.
On Friday, the GD 30 -one of those with the most movement- closed the round at US$31.47 and this Tuesday it passed the floor of US$30 around noon to then barely rebound and trade at US$30.02.
a drop of 2.58%.
This is the star bond of the plan launched by the Minister of Economy Sergio Massa to
repurchase securities for US$ 1,000 million.
The objective is to lower the country risk, lower the cost of external financing and contain the run on the dollar.
So far in February, the GD30 accumulates a drop of more than 16%.
The Central Bank has already allocated close to US$ 520 million of its reserves to the repurchase of titles.
The measure contributed to stabilizing financial dollars in February, with a reduction of the exchange gap to 90% in the last rounds, but it did not improve bond prices or country risk, which this Tuesday stands at 2,123 basis points.
The current values of the bonds
are lower than they were before the repurchase announcement.
The rest of the bonuses are also in red. The one that falls the most is the
GD35, which loses 3.5%, while the GD46 falls by 3.2%.
Meanwhile, the shares of Argentine companies listed in New York did not have a
good start to the week either (Monday was also a holiday in the United States).
Globant loses 4.4%;
Edenor, 4.1% and Central Puerto (which has just bought the power generators of the Italian Enel, owner of Edesur) lost 2.2%.
On the other hand, banks (with increases of more than 2%) and YPF are trading on the rise.
look too
Despite the use of reserves, the government's "star" bond plummets
Sergio Massa travels to the G20 to seek support while the economic team goes to Washington to meet with the IMF
