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Financial dollars rise and country risk jumps in a market attentive to external volatility


The JP Morgan indicator stands at 2,415 points, a level not seen since last November. The market, in cautious mode

In the midst of global uncertainty and with the reference markets that began the week with mixed movements

, bonds in Argentine dollars started the day with losses

and the country risk hit another jump to 2,415 points.

This is a level that has not been recorded since November of last year.

At the exchange level,

the blue dollar starts the wheel without changes at $383, but the financial dollars extend their rise.

 The dollar counted with liquidation, the way that companies use to become dollarized, goes up another notch and is trading this Monday at $405.

 Financial prices rose this month, as the deterioration of the Central Bank's reserves deepens.

The agency has already sold US$ 871 million since the beginning of March

and got rid of more than 60% of what was collected in December, in March of the last edition of the soybean dollar.

"After the announcement of the purchase of Credit Suisse by the UBS and the improvement of the swap lines between the FED, ECB, BOJ, BOE and the Swiss Central Bank, Argentine bonds do not raise their heads," PPI analysts warned.

At the same time they advanced: "This week's eyes are on the Treasury tender. Based on our estimates, 97.6% of interest and capital are from the private sector. The bulk of this amount is explained by the expiration of

the BONCER23

(TX23) and a LELITE (in the hands of FCI)".

Martín Polo, from Cohen, pointed out: "The key this week

will be the interventions of the BCRA

in the exchange market -accumulate sales of US$ 850 million-, at the same time that the fiscal and commercial exchange results for February will be known. ".

In the stock market, the Merval recovers and operates with a 1% improvement hand in hand with a rise in the main stock indices on Wall Street.

After a red-hot week, Argentine shares listed in New York are mostly higher, led by Banco Supervielle, up 5.5%.


look also

Banking crisis: Credit Suisse shares plummet 60% after UBS purchase announcement

Bank bailouts do not calm markets: First Republic Bank falls on Wall Street and gold hits all-time highs

Source: clarin

All business articles on 2023-03-20

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