Maximum Effect: Argentine assets fall before the start of operations

The resignation of Máximo Kirchner once again generated uncertainty in the markets

The change in expectations that occurred after the announcement of the agreement with the International Monetary Fund (IMF) could have a very short-lived effect. The resignation of Máximo Kirchner to the presidency of the ruling bloc in Congress once again generated uncertainty in the markets and Argentine bonds in dollars opened this Tuesday with falls.

In the Wall Street premarket, Argentine bonds reacted with falls. The Global 2029 registered a drop of 1.23%. While the Global 2030 fell 0.89%.

The Global 35 and Global 38 bonds also opened lower with -1.57% and -0.28%. In the case of the Global 41 and Global 46 bonds, the longest-term debt, in the previous trading day, the drops were -1.07% and -1.67%.

Some Argentine stocks, such as Grupo Financiero Galicia and YPF, also showed slight declines before the start of the session.

In this way, yesterday’s result is reversed, when Argentina’s stock market assets operated with firm increases, pending details of the agreement reached with the Monetary Fund International to restructure the payments of a debt of more than 44,000 million dollars.

the leading index S&P Merval of the Buenos Aires Stock Exchange rose 3%, above 90,907 points, after gaining 2.7% on Friday and accumulating a gain of 5.6% last week.

Bonds in dollars also continued on their recovery path. The Global with foreign law rose 1.6% on average, having rebounded 8% on Friday. Thus, they reduced the losses of the first month of the year to 2% on average, when they had accumulated a loss of 14% a week ago.

“The weighted average price was above the threshold of USD 33 for the first time in three weeks and reached its level highest since Jan 5”, he specified Personal Portfolio Investments.

The risk country of JP Morgan recorded a strong clipping almost 200 points basics on two wheels, thanks to the positive impulse of the official announcement about the IMF, to be located in the 1,724 integers at 5:00 p.m., the lowest figure since January 3. It should be remembered that a week ago, the country risk was close to 2,000 points on January 24.

News in development

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