What is behind the rise in Argentine dollar bonds: is it time to invest?
In the last three months, Global bonds rebounded more than 40% on Wall Street. In January they already accumulate increases of 7% on average and the country risk yields to the lowest level since June
In the last three months, the exchange bonds have folded to the positive “momentum” enjoyed by Argentine shares. In fact, government bonds in dollars had already been on a significant recovery trend since mid-October, with increases of more than 40%, after having hit a price floor since they were listed in 2020.
The free dollar was left at $369 for sale
Friday the free dollar reached a record of $369 for sale, after a daily rise of eight pesos in total. The currency accumulates a gain of 23 pesos or 6.6% so far in January, to beat the inflation for the third consecutive month. With a dollar wholesaler who earned 30 cents at $181.27, the currency gap reached 103.6 percent.
The central bank bought USD 200 million, the largest purchase so far this year.
In the first market test of 2023, Economy seeks to renew maturities for $400,000 million this week.
The BCRA bought USD 200 million on the market, the highest figure since the beginning of the year
It was due to the inflow of funds for infrastructure works and allows the monetary entity to accumulate purchases for some USD 281 million in January
The income of foreign currency for infrastructure works that were processed through the exchange market allowed the Central Bank to acquire them in their entirety and end its intervention of the day with important purchases for 200 million dollars.
Financial day: the Stock Market rose for the eighth round and the free dollar scored a record of 369 pesos
The S&P Merval gained 3.4% and exceeded 242,000 points. The bonds ended mixed and the Argentine country risk fell to 1,980 points. The BCRA bought USD 200 million
The surprising Argentine stock market supported this Friday its vertiginous upward trend of recent weeks based on the arrival of fresh capital and high returns in dollars, based on the devalued prices due to an economic situation of high inflation and the permanent devaluation of the peso .
