Argentine assets operate with a negative trend, affected by the declines shown by reference markets such as Wall Street.
By mark phillip
02/06/2023 – 12:00 p.m.
The porter bag it fell 0.7% for the third consecutive day and stood at 240,800.07 basis points. Meanwhile, in hard currency it trades at 661 units. In the foreign market, after a heavy start, the ADRs of Argentine companies that operate abroad trade with the majority of falls of up to 5.1%, led by YPF, in a wheel in which the main US shares operate with a trend bass guitarist.
After a fairly good week for Argentine bonds, the foreign weather cut gains unexpectedly. The data job creation in the United States in January (517 thousand compared to 223 thousand expected) suggests greater wage pressure going forward, which would imply a risk for the current disinflation in the United States. Thus, the possibility of new rate hikes by the FED appears that were not in the plans of investors and affects the entire universe of emerging markets.
In this sense, since Personal Portfolio Investments They noted that the effect on global debt was immediate. “The Argentine Globals, which accumulated increases of between 1.5/2.2% until Thursday, gave up to 4.2% in the last round of the week. Logically, the short tranche was the most affected by this change in conditions It will be mandatory to follow the development of the latest data in the United States and its impact on emerging screens.”
In the fixed income segment, the sovereign dollar bonds under foreign legislation they register falls of up to 2%, led by the Global 35, while the titles in pesos with CER adjustment mark increases of up to 1.92%, where the performance of the TX28 stands out.
What happens in the markets of the world
Wall Street is trading at a loss, with investors still weighing the worse-than-analysts-estimated January jobs report as it lowered prospects that the Federal Reserve may pause raising interest rates this year, an expectation that has fueled this year’s rally.
Investors will get more information about the reaction of the US central bank to recent employment data when Fed Chairman Jerome Powell speaks at the Economic Club in Washington, DC, tomorrow.
The Buenos Aires stock market and sovereign bonds in dollars extend the falls
On the corporate front, Dell Technologies It said it will cut around 6,650 jobs, or about 5% of its global workforce, making it the latest in a wave of tech companies to announce layoffs. The actions fall slightly in the middle wheel.
Wall Street will continue this week with a busy financial agenda to analyze. Among the names you’ll be watching more closely are earnings reports Walt Disney, Uber, PayPal and PepsiCo.
Wall Street
The main Wall Street indices are trading with negative results. Thus, the S&P 500 loses 0.65%; the industrial Dow Jones subtracted 0.47%; and the technological Nasdaq fell 0.84%.
Merval
The Merval registers a drop of 0.7%. Thus, the decreases in the leading shares are registered by Ternium (-1.30%); Galicia Financial Group (-1.30%); and Loma Negra (-1.26%).
ADRs
On Wall Street, the papers of Argentine firms operate the day with negative results. Thus, the losses correspond to Edenor (-4.8%); Cresud (-4%); and Central Puerto (-3.8%).
bonds
Sovereign bonds in dollars under foreign legislation register falls of up to 2%, led by the Global 35, while titles in pesos with CER adjustment mark increases of up to 1.92%, where the performance of the TX28 stands out.
Risk country
The country risk is located around 1,822 basis points.
