In three days they fell to 9%, and the country risk exceeded 1,500 points.
Dollar bonds prolong the bleeding this Wednesday, June 5th which led to the country risk exceeding 1,500 points. The market began to worry about the possibility that Congress would vote increase in pensions, which could threaten the balance of government accounts.
Beneath this complex panorama dollar titles recorded widespread decline. The most fell Bonar 2041 (-4.1%), and Bonar 2038 (-1.7%). Over the past three days, some securities have recorded a drop of almost 9% thanks to Bonar 2041 (-8.6%), and Global 2029 (-8.3%), and Bonar 2029 (-8.3%).
Thus, Argentina’s country risk again exceeded 1,500 and amounted to 1,528 basis points.
At the local level, Consideration of the Basic Law in the Senate and the expiration of the currency swap with China are causing caution among investors.
It should be added that members of the lower house voted for a new pension system for pensioners. Initiative agreed between Union for the Motherland, UCR, We are creating a federal coalition, Civic coalition and Federal innovations In the end, it was he who prevailed after a marathon session that ended early on Wednesday morning.
“Political tension coupled with delay approach to the legal framework and fiscal packageAdded to concerns regarding possible additional modificationsare questionable given that support from the mainstream will ultimately be necessary to ensure the sustainability of the government’s goals,” the economist said. Gustavo Ber.
Argentine stocks in S&P Merval and Wall Street
Leading index The S&P Merval fell 0.7% on the Buenos Aires stock exchange.after a choppy performance driven by declines in energy and financial stocks, following a 4.7% drop the previous day and an improvement of 24.8% in May.
The leading group includes: Cresud (-2.5%); Macro Bank (-2.2%) and Transener (-1.9%). Meanwhile, the recovery of the Buenos Aires stock market was led by: Edenor (+1.1%); And BBVA Bank (+0.8%).
As for the securities of Argentine companies operating on Wall Street, they closed in different directions. The increase was due to Takeoff and YPF, with 4.3% and 2.6% respectively. And the victims led Cresud and Banco Macro from 2% and 1.7%.