Argentine assets register a mixed trend, upset by the bad inflation data in the United States that affected the mood of the market.
By mark phillip
02/14/2023 – 11:53 a.m.
The porter bag it advances 0.55% and stands at 259,592.87 basis points. Meanwhile, in hard currency it trades at 700 units. In the external market, the ADRs of Argentine companies that operate abroad are trading in positive territory of up to 9.1%, where the performance of Cresud stands out, in a wheel in which the main US shares operate with a downward trend, as a result of the bad inflation data in the United States.
In the fixed income segment, the sovereign dollar bonds under foreign legislation they continue to be heavy and register drops of up to 0.66%, led by the Global 35, while the titles in pesos with CER adjustment mark increases of up to 1.11%, where the performance of the TX28 stands out.
In the weight market, the Treasury Palace presented the conditions of the first tender of the month, to be held tomorrow. On this occasion, it faces total payments that reach $305,000 million, which market sources estimated to be practically entirely in private hands.
In this way, the Ministry of Economy will seek to attract financing tomorrow through the tender of a Lelite as of February 28, the Lede S31Y2, the Lecer X16J3 and the TB27P bond (used by banks to integrate reserve requirements). From Grupo SBS they indicated that the key to the tender “will go through the effective rates validated in the S31Y3 as well as the demand for the X16J3 considering that today the inflation data for January will be known and, therefore, the carry of the CER until March 15”.
What happens in the markets of the world
Wall Street operates with falls, due to the fact that the inflation data for January were worse than expected by economic specialists.
He Consumer Price Index (CPI) January published by the Bureau of Labor Statistics showed that prices rose more than estimated in the first month of the year. The report said prices rose 0.5% from the previous month overall and 0.4% in “core” terms, which exclude the more volatile costs of food and energy.
The Merval extends the increases and the bonds in dollars continue with losses
During the past year, the headline inflation rose 6.4% in January, while core inflation rose 5.6%. Analysts had expected headline inflation to rise 0.5% from last month and 6.2% from last year.
On the corporate front, the shares of Avis Budget Group are up 2%, after the car rental company disclosed quarterly results after the closing bell on Monday that beat Wall Street estimates.
Wall Street
The main Wall Street indices are trading with negative results. Thus, the S&P 500 loses 0.30%; the industrial Dow Jones subtracted 0.20%; and the technological Nasdaq fell 0.51%.
Merval
The Merval registers a rise of 0.55%. Thus, the increases of the leading actions are registered by Central Puerto (1.93%); Cresud (1.80%); and Pampa Energía 1.76%).
ADRs
On Wall Street, the papers of Argentine firms operate the day with results in the green. Thus, the gains are recorded by Cresud (9.1%); BBVA Argentina (5.6%); and Edenor (4.6%).
bonds
Sovereign bonds in dollars under foreign legislation register falls of up to 0.66%, led by the Global 35, while titles in pesos with CER adjustment mark increases of up to 1.11%, where the performance of the TX28 stands out.
Risk country
The country risk is located around 1,975 basis points.
