He country risk fell close to 100 units on the first day of the week and broke the floor of 1,200 basis pointsthe level is the lowest since September 2020. For their part, the Argentine dollar bonds rose another 4% this Monday.
Market agents held public debt prices firm both locally and abroad, in response to positive expectations about the future of the domestic economy, which triggers opportunity purchases in the face of attractive returns.
Country risk: what it is and why it is at a 30-month low
The Global bonds of the exchange – in dollars with foreign law – rose 3.6% on average on Wall Street, with the Global 2030 (GD30) benchmark trading above USD 58 for the first time (USD 58.94). Meanwhile, the Bonares -with local law- gained 4.4% on average.
The largest increases of the day were achieved by Bonar 2029 (AL29, +5.9%), Global 2029 in euros (GE29, +4.9%) and Global 2035 (GD35, +4.6%).
Argentine shares in the market
For his part, the S&P Merval rose led by energy and financial companies, which marked an improvement of 1.3% to 1,229,654 units.
The main increases were for Loma Negra (+11.9%); IRSA (+4.2%); and Transener (+4.1%). Meanwhile, the losses were for Pampa Energía (-2.2%); Transportadora de Gas del Sur (-2.2%); and Mirgor (-1.7%).
Bonds and stocks on the rise, country risk at a minimum and dollars on the decline
On the other hand, in the market they indicate that this Tuesday the official announcement of the sale of HSBC bank operations to local Galicia, controlled by the GFG. The entities did not confirm the operation, which would be around $500 million.
As for the shares of Argentine companies on Wall Street, they operated with a strong upward trend. The increases were led by Loma Negra (+11.4%), IRSA (+5.6%), and Ternium (+3.4%).
Meanwhile, the losses were for Transportadora de Gas del Sur (-2.4%); Pampa Energía (-1.4%), and Mercado Libre (-0.8%).
ED