The segment of local and foreign equities marks generalized increases, encouraged by the electoral trade and a better global business climate
By Marcos Phillip
10/05/2023 – 14,54hs
In a day of marked volatility, the Merval falls 0.20% and stands at 307,113.90 basis points, with cut three consecutive wheels with profit. In the external market, the ADRs of Argentine companies that operate abroad trade with ups and downs, in a wheel in which the US stock market indices operate with mixed results.
in the segment of fixed rentsovereign bonds in dollars under foreign legislation register ups and downs along the curve, while titles in pesos with CER adjustment mark falls of up to 1.8%, where the performance of the TX24 stands out poorly.
In the local market, speaking at an event of the Chamber of Commerce of the United States in Argentinathe Minister of Economy, Sergio Massa, referred to the negotiations between the country and the IMF and said that the drought “implies rethinking everything”, adding that “the frontload” (advancement of disbursements) is a tool statutorily allowed “.
Massa spoke about the interventions of the BCRA in the exchange market and said that it is “unavoidable because the political years generate this idea of becoming a dollar and preserving the portfolio.” He also said that the swap with China will be used for about $5 billion for import payments between April and August, with those for April already totaling about $1.4 billion.
What happens in the markets of the world
US stocks are mixed after the publication of the Consumer Price Index (CPI) in the United States, which registered an interannual rate of 4.9% -below the 5% forecast-, marking its tenth consecutive drop.
The price index at April “basic” consumerwhich excludes the more volatile costs of food and gasoline prices, rose 5.5% over the past year, in line with economists’ expectations.
The Merval operates with profits and records a new all-time high in pesos
The data could raise expectations that the Fed will pause its rate hike campaign at its next meeting in June. However, the president of the New York Fed, John Williamsnoted that inflation remains “too high,” giving room for a further increase in the Federal Reserve’s policy rate.
On the political front, President Joe Biden met yesterday with the Speaker of the House of Representatives, Kevin McCarthy, and other top congressional leaders to discuss the nation’s debt limit. The meeting produced little progress, but both sides are scheduled to meet again on Friday to unlock the ceiling on the federal government’s public debt.
Wall Street
Wall Street’s major indices are trading with mixed results. Thus, the S&P 500 falls 0.35%; the industrial Dow Jones falls 0.89%; and the technological Nasdaq advances 0.07%.
Merval
The Merval registers a drop of 0.20%. Thus, the rises of the leading shares are registered by Loma Negra (-2.32%); Transportadora Gas del Norte (-2.25%); and Transportadora Gas del Sur (-1.95%).
ADRs
On Wall Street, the papers of Argentine firms operate the day with ups and downs. Thus, the gains are recorded by Telecom Argentina (3.5%); Banco Supervielle (3.5%); and Mercadolibre (3.4%); while the losses are for Tenaris (-2.6%); Ternium (-2.6%); and Transportadora Gas del Sur (-1.8%).
bonds
Sovereign bonds in dollars under foreign legislation register ups and downs along the curve, while titles in pesos with CER adjustment mark falls of up to 1.8%, where the performance of the TX24 stands out poorly.
Risk country
The country risk is located around 2,495 basis points.
