The local equity segment was unstoppable, despite not having the external compass of the main reference market
For mark phillip
01/16/2023 – 6:30 p.m.
The Merval index advanced 3.64%, with which it registered a new all-time high in pesos, settling at 250,971.00 points and accumulated nine consecutive rounds in the green. Meanwhile, in hard currency it stood at 703 units and set a new record in dollars since August 12, 2019. In the external market, the shares of Argentine firms listed in New York did not operate in the United States due to the holiday.
In the fixed income segment, the sovereign dollar bonds under foreign legislation they operated with increases of up to 5.44%, led by the Global 35while the titles in pesos with CER adjustment marked increases of up to 0.81%, where the TX28 stood out.
Argentine hard currency debt continues to have an excellent January. Better external conditions and a better local political scene strongly boosted its price during the first month of the year.
In this sense, from Portfolio Personal Inversiones, they pointed out that the good news regarding prices in the United States strengthened the possibility that the FED loosens the reins of its contractive monetary policy, encouraged “the emerging indices that presented interesting green last week “.
What happens in the markets of the world
Wall Street did not operate due to the Martin Luther King, Jr. Day commemoration holiday.
The nasdaq posted a 4.8% gain for the week, while the S&P 500 and the Dow Jones Industrial Average they marked their best results since November, showing weekly gains of 2.7% and 2%, respectively.
Without reference to Wall Street due to a holiday, the Buenos Aires stock market extended the increases and registered a new record in pesos
However, the fourth quarter earnings season set to kick off in the week could test this rally. In this short week, the market will expect the government’s retail sales report, another notable inflation reading and a big wave of corporate earnings results from giants like Goldman Sachs, Netflix, Procter & Gamble and American Airlines.
The big Wall Street banks set the tone with mediocre results that also showed their strategy to avoid a possible recession and issued warnings about the state of the economy.
Wall Street
Does not operate due to holidays
Merval
The Merval registers a gain of 3.64%. Thus, the rises of the leading shares were registered by Grupo Financiero Valores (9.97%); Holcim (7.13%); and BYMA (5.92%).
ADRs
They do not operate for holidays
bonds
Sovereign bonds in dollars under foreign legislation operated with increases of up to 5.44%, led by the Global 35, while titles in pesos with CER adjustment marked increases of up to 0.81%, where the TX28 stood out.
Risk country
The country risk is located around 1980 basis points.
