The financial market is one of those that showed the greatest recovery since Javier Milei assumed the Presidency of the Nation. For this reason, the economist Juan Manuel Carnevale evaluated in Channel E the development of Argentine debt papers in these 100 days of government.
How bonds fared in the month of March
“Argentina closed a month of March with many particularities and the first thing to highlight is that it closed the cable dollar or CCL with marginal movements,” said Carnevale. He then added: “The MEP dollar fell around 1.5% and the cable rose 1% but nothing out of this world.”
While, according to the economist: “The bonds had increases of 15 or 16% in dollars where the one that stood out the most is the AE38, which rose 22% in dollars“. This is because “this bond is the one with the highest amount of interest to pay now in July,” indicated the interviewee.
What was the bond that rose the most so far this year?
“The bond that rose the most in the first quarter is the AL29, this means that the bonds are beginning to have normal returns and the short bonds are the ones that rise the most.”said the expert. This paper ““rose 46% in dollars and 50% in pesos” in the first quarter of 2024.
While bonds in pesos have a particularity, because bonds adjusted for inflation “like the TX26, after the exchange, remained the flagship bond and rose 16% in the month of March and has risen 46% so far this year”Carnevale explained. For its part, “another flagship bond like the AL30 also rose 16% in pesos in the month of March and has risen 45% during the first quarter.”
From now on everything indicates that, “dollar bonds should continue to rise while inflation-indexed bonds should decline,” Juan Manuel Carnevale closed.