The third week of the month left a series of relevant movements in the main indicators of the Argentine market, marking a new chapter in the dynamics between interest rates, exchange rate of change of dollars and stock market assets.
The decrease in very short -term rates, especially in the stock market bond market, generated a domino effect that prompted the dollarrevitalized the appetite by actions and caused a rebound in the sovereign bonds. The cost of a day to one day, financing instrument between private, decreased to 32% per year, aligning with the yields of the last Lecap tender (capitalizable Treasury Letters).
This decline represents a standardization of the rate curve in pesos, which had been showing extreme volatility after the elimination of the Lefi (fiscal liquidity letters), the main tool for the monetary policy of the Treasury until a few weeks ago.
The seven -day bond rate was also around 32.6%, indicating a “flattening” of the yield curve. This phenomenon reflects more contained inflation expectations and a positive positive rate for sovereign debt, which generates incentives to reposition itself in financial assets.
The decline of rates released immediate liquidity that was partially channeled towards the demand for dollars. The retail official dollar rose 10 pesos or 0.8%, reaching $ 1,285 at Banco Nación. In the wholesale market, the currency closed to $ 1,272, with a gain of $ 13.50 or 1.1%, in a wheel with a negotiated volume of USD 428.9 million.
The dollars Financial also showed advances: the one counted with liquidation (CCL) via bonds ended at $ 1,275.85 (+0.8%) and the MEP at $ 1,271.14 (+0.6%). The blue dollar, meanwhile, added 10 pesos and was $ 1,320, with a gap would change 3.8% compared to the wholesaler.
Recovery actions
The S&P Merval index of the Buenos Aires Stock Exchange gained 2.5%, reaching 2,135,087 points, its highest level since June 12. Measured in dollarsMerval also showed a recovery, returning to its highest value since July 8.
Among the ADRs (Argentine actions that are quoted on Wall Street), Galicia Group stood out with a 3.7%rise, on a day with a majority of positive numbers. This rebound reflects a renewed interest in Argentine assets, favored by the decrease in rates and the perception of greater stability would change.
Followers in Google News And in our channel of Instagramto continue enjoying the latest news and our best content.
