Argentine assets continue to enjoy an impressive rally, in line with the positive trend with which the reference markets operated
For mark phillip
01/23/2023 – 6:42 p.m.
The Merval advanced 1.18% and stands at 250,823.80 basis points. Meanwhile, in hard currency it is trading at 689 units. In the external market, the ADRs of Argentine companies that operate abroad marked increases of up to 3.8%, where the performance of Globant stood out, in a wheel in which the main US shares operate with an upward trend.
In the fixed income segment, the sovereign dollar bonds under foreign legislation they closed with increases of up to 3.12%, led by the Global 41, while the titles in pesos with CER adjustment marked decreases of up to 0.68%, where the poor performance of the TX28 stood out.
In the sovereign debt market, the question remained as to which is BCRA’s firepower to buy back your debt. There is still no concrete data regarding an increase in resources to advance significantly with the purchase of Globales, only rumors of
Since Personal Portfolio Investments (PPI) pointed out that “if these rumors do not become true, it is likely that the initial effect (of price increases) will dissipate. If so, it is likely that investors will seek to rotate within the sovereign curve to take advantage of the recent performance of the short stretch titles”
What happens in the markets of the world
Wall Street It traded positively as investors brace for a new week packed with corporate earnings reports and expect to know what the Federal Reserve’s rate hike will be by the end of the month.
The eyes of the square are on Salesforce, after it was reported that hedge fund Elliott Investment Management acquired a multi-billion dollar activist stake in the software giant.
Merval and dollar sovereign bonds extend gains
On the other hand, the actions of Spotify Technology They advanced more than 2% after a rumor circulated that the streaming platform will cut 6% of its workforce, adding to a surge in cost-cutting layoffs across the tech sector.
So far though, tech stocks have led the uptrend in US stocks, with the Nasdaq gaining more than 8% in January so far.
Wall Street
The major wall street indices were traded at a profit. Thus, the S&P 500 gained 1.19%; the industrial Dow Jones advanced 0.76%; and the technological Nasdaq added 2.01%.
Merval
The Merval recorded a gain of 1.18%. Thus, the rises of the leading shares were registered by Ternium (5.79%); Transener (3.58%); and Telecom Argentina (3.51%).
ADRs
On Wall Street, the papers of Argentine firms operated the day with green results. Thus, the gains are recorded by Globant (3.8%); Telecom Argentina (3.3%); and Ternium (2.9%).
bonds
Sovereign bonds in dollars under foreign legislation closed with increases of up to 3.12%, led by the Global 41, while titles in pesos with CER adjustment marked decreases of up to 0.68%, where the poor performance of the TX28 stood out.
Risk country
The country risk is located around 1,843 basis points.
