Argentine bonds and stock prices fell significantly today, The market is in the midst of active profit-taking selling due to bad weather in the world market.
The withdrawal is Country risk rate increased by 2.3% (ended at 619 points) S&P Marval on the Buenos Aires Stock Exchange fell 3.5%; But it didn’t disturb the dollar. ～After opening upward～ Retail sales averaged $1,430 (-$5 or -0.3%) and the wholesale level ended at $1,406 (-$6 or -0.43%).
In other words, Tickets still available USD 544.5 million was traded in the foreign exchange market, the trading volume increased by 18.5% from yesterday and was the highest so far this week.
Analysts are analyzing exchange silence, It was infected by the blue dollar (which remained stable at $1,435), the sudden repositioning of expectations that took place in the market after formal victory in the last election, and predictions that there would now be a more balanced market. That’s thanks to an influx of new capital from overseas bond issuances by local companies.
It’s worth remembering that Between YPF, Pluspetrol, Pampa Energía and Tecpetrol alone, they have already captured US$2.2 billion from the global market. These are resources that, due to current regulations, must mostly be converted into pesos in the local market due to regulations. And there are a few more tests of global willingness to face new arrangements.
On the contrary, the financial dollar rose, which is basically explained by the general decline in bonds and stocks.. As such, the MEP or stock exchange dollar rose from $1,451.9 to $1,458.2 (+0.43%), and cash with settlements (CCL) rose to $1,484 (+0.7%), revealing the repatriation of capital caused by the epidemic of risk aversion that occurred around the world during the day, and was reflected in the average 2% decline in Wall Street indexes.
As a result of this, Argentine dollar-denominated government bonds, the most important indicator, fell by an average of 0.5% overseas (The downward revision was driven by a weaker dollar, with local rates from 1.4% to 1.9%) And local stocks managed via ADR in New York generally closed in the red. Banco Supervière (down 6.7%) and Edenor (down 4.3%), as well as other banks, fell by an average of 4%.
“That was the day that everything came together because of the deficit accounting that we saw, both locally and on Wall Street. Investors had recorded very high profits in the previous roundThis is always a favorable precedent for selling and manufacturing when there is the slightest doubt,” the market operator explained.
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