Without a local market, Wall Street ADRs and bonds rose on July 9 and country risk declined.
The local stock market did not do this. Tuesday, July 9 due to the Independence Day holiday, but Argentine sovereign bonds and shares are listed on Wall Street and They noted positive dynamics at the beginning of the day.
“After reducing the coupon on the bonds to pay rent and depreciation, Markets reacted positively to our independence celebration“It looks like a reversal after a few negative days,” he said. Volume Urban analyst Leonardo Svirsky.
” ADRs and dollar bonds overseas tried to extend recovery during holidays following a recent increase in caution. As such, the major ADRs are showing improvement in dollar terms, given that some more ‘trade’ oriented tactical operators continue to encourage selective buying of opportunities in search of an opportunity to take advantage of the recent weakness,” the analyst said. Gustavo Ber.
ADRs accounted for most of the gains, up 3.16%. On the New York Stock Exchange, Telecom, BBVA (+3.14%) and Edenor (2.34%) are leading the way, while Loma Negra (-1.12%), Transportadora de Gas del Sur (-0.87%) and Pampa Energía (0.54%) have fallen the most.
Bond Dynamics and Country Risk
sovereign bonds in dollars They rose to 4.4%, led by Global 2046, bonar AL29 (+3.2%), Global 2038 (+3%) and Global 2035, which rose by 2.1%. Overall, global dollar currencies had good dynamics.
Positive dynamics were also observed in Eurobondsalthough less pronounced, with growth of 1.14% in GE38, followed by GE35 (+1.23%) and GE31 (+0.7%).
Meanwhile, Bonares was the one with the biggest number of declines.. In fact, AL41 (-1.32%) and AE30 (-1.31%) fell sharply. Meanwhile, AL30, which will pay principal and interest this Wednesday, July 10th.increases by 0.39%.
Country risk It has fallen 11 points in a day after surpassing 1,500 on Monday. It is at 1,485.
Ber stressed that “after paying out income and depreciation Bonds are showing growthwhile assessing the extent to which the final effect of reinvestment of funds by investors in seeks to take advantage of lower parities.”