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Bank collapse in the US: country risk soars, bonds fall and the rise of the CCL accelerates, reaching $400


Although Joe Biden has pledged to support Silicon Valley Bank clients, international markets are moving in the red. The JP Morgan indicator touches 2,444 points, a mark he had not seen since August.

The bankruptcy of the regional bank Silicon Valley Bank has become a veritable black swan

that has hit the markets at a tumultuous start to the year.

Although this Monday,

the main Wall Street indices began to operate in the red,

after noon they turned around and recovered their positive direction.

It is that the SVB crisis can, in a certain way,

put a brake on the aggressive rise in rates that the Federal Reserve of the country was analyzing

, which in a certain way changes the perspective of investors for the equity markets.

In any case,

most of the Argentine stocks listed in New York maintain their downward trend

, with IRSA leading the way.

Tension is also felt in the exchange market: in line with the dynamics of recent days,

the financial dollar is rising again and cash with settlement,

the way companies use to become dollarized,

reaches $400.

On the street, the blue, which had ended last week in a low position, recovers positions: it advances $7 and touches $380 again.

Bad global weather adds to local uncertainty and fuels demand for dollarization.

Global investors are analyzing the "contagion effect" that the fall of the SVB

may have on the US banking system, even after the president of that country, Joe Biden, has promised to support the deposits of his clients.

"Regulators in the United States came out to rescue depositors from financial institutions that must be absorbed and/or liquidated. The injection of funds that this action will demand will have future consequences that policy makers must deal with," they said in a report for their clients at the consulting firm Aurum Valores.

"The lesser evil was chosen to avoid contagion and a run.

The first effects are a sharp drop in expectations of rate rises and a weakening of the dollar. We maintain the suggestion of caution," they added.

In this context,

Argentine bonds start another week in decline


The country's debt titles are more punished than those of its emerging peers: on average,

local bonds fall more than 4%

, while those of neighboring countries, such as Brazil, Uruguay and Chile, began the week positively.

Since the beginning of the round,

the country risk, the indicator measured by the JP Morgan bank, has shot up more than 10% to reach 2,444 points

, a figure that has not been seen since August of last year, close to the arrival of Sergio Massa to the Palace of Finance.

"In the market, it would seem that they are combined: risk aversion, very poor exchange and goal revision interpreted as something very negative to have a very punished start to the week," they added in Aurum.


look too

Banking crisis in the United States: Wall Street opens lower and regional banks fall

End of summer: the drought worsens and financial dollars rise again

Source: clarin

All business articles on 2023-03-13

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