Argentine shares rise strongly on Wall Street, while bonds continue to fall

After several days of decline hit by global and local turmoil, Argentine shares are recovering this Monday in Argentina and the United States. At once, dollar debt bonds maintain the negative trend that it has been registering since last week, when the debt swap was announced, which includes the holdings of public organizations, such as ANSeS.

In Buenos Aires the Merval rises 6.5%. In New York, the rise in so-called ADRs exceeds 8% in the case of Corporación América, with YPF with 7.2% and closely followed by Irsa with 6.7%.

At the local level, the shares of Pampa Energía and Central Puerto recorded increases of 9.2% and 8.9%, respectively.

The Dow Jones rises 0.8%. “With a calmer tone seeks to start the week Wall Street, even in the midst of twists and turns in the financial system and an eventual recession, and so it is that domestic assets are testing a mixed recovery – with the most timid bonds – while operators evaluate how the electoral map is being configured,” said the economist Gustavo Ber.

“In the midst of twists and turns about the financial system, Wall Street continues to respond prudently until greater clarity is gained about the scope, to which an eventual recession could be added soon, that the recent sharp drop in UST rates is discounted and would force the Federal Reserve to cut about 100 basis points,” Ber said.

In the fixed income segment, bonds in dollars registered falls of up to 1.40%, while titles in pesos marked increases of up to 1.2%. In that framework, country risk fell 0.6% to 2,534 basis points.

“While the fine print is awaited in order to evaluate the possibilities of implementation, investors continue to respond cautiously to the debt swap of public bodies,” Ber slipped.

For its part, the cash dollar with settlement advanced 0.5% to $392.07 and the MEP dollar rose 0.8% to $378.74. In the informal segment, the blue rose a peso, to $390.

with these movements the positive effect of the announcement of the exchange of dollar bonds seems to be fading, that last week contributed to reverse the rise that the alternative dollars had undertaken after knowing in mid-March the inflation data for February with 6.7%. Thus the CCL had come to touch $403 and the blue stretched to $395.