Argentine assets operate with mixed results, affected by the negative trend shown by the main shares of Wall Street.
By mark phillip
02/16/2023 – 12:10 p.m.
He S&P Merval index it advances 0.97% and stands at 257,459.63 basis points. Meanwhile, in hard currency it is trading at 695 units. In the external market, the ADRs of Argentine companies that operate abroad trade with a majority of greens of up to 6%, led by Tenaris, in a wheel in which the main US shares operate with a bearish trend.
In the fixed income segment, sovereign bonds in dollars under foreign legislation registered falls of up to 4.72%, led by the Overall 38while the titles in pesos with CER adjustment mark increases of up to 1.28%, led by the TX26. In this way, the country risk advances to 2,013 basis points
In the weight market, the Treasure it approved the first test of the month and raised $401,680 million in yesterday’s tender, far exceeding the large maturities of $294,398 million. Thus, fresh funds were obtained for around $107,282 million.
“It is worth noting that, in the second round for investors of the secondary market creators program, the Treasury could increase the harvest by up to 20% of what is issued in each of the bills. To obtain a satisfactory result, the Treasury had to validate the rates of the Secondary market, which are substantially higher than those of the previous tender”, expressed from Portfolio Personal Inversiones.
What happens in world markets
Wall Street It is operating at a loss, affected by the economic data published in Wednesday’s session where it was revealed that inflation could be much stronger than many expected.
Retail sales increased 3% in January, specified yesterday the Department of Commercereversing two straight monthly declines, along with a higher-than-expected reading in consumer prices on Tuesday, unsettled investors worried the central bank could keep raising interest rates.
The Merval operates with profits and sovereign bonds in dollars are again in red
Meanwhile, the Congressional Budget Office warned yesterday that the Treasury Department’s ability to continue paying government bills will be exhausted by the summer unless lawmakers reach an agreement to raise the debt ceiling.
On the macro front, investors scrutinized recent economic data, including the producer price index (PPI) from January. The general PPI registered a monthly increase of 0.7%, compared to the 0.4% expected by economists.
Wall Street
The main Wall Street indices are trading with negative results. Thus, the S&P 500 falls 1.14%; the industrial Dow Jones subtracts 1%; and the technological Nasdaq fell 1.19%.
Merval
The Merval registers a rise of 0.97%. Thus, the rises of the leading shares are registered by YPF (4.07%); Galicia Financial Group (2.24%); and Loma Negra (1.28%).
ADRs
On Wall Street, the papers of Argentine firms operate with the majority of results in the green. Thus, the profits are recorded by Tenaris (6%); Banco Supervielle (2.5%); and Telecom Argentina (2.1%).
bonds
Sovereign bonds in dollars under foreign legislation register decreases of up to 4.72%, led by the Global 38, while titles in pesos with CER adjustment mark increases of up to 1.28%, led by the TX26.
Risk country
Country risk is around 2,013 basis points.
