:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/PYMZGRNST7U4KA554JFHKYFT4A.jpg "Markets: Argentine dollar stocks and bonds rose, a good day for Wall Street")
Wall Street operated with slight gains in Monday’s session, with increases in a range of 0.2% to 0.6%more accentuated for technological papers.
Financial Week: Dollar Bonds Rebound 6%, Central Bank Continues to Sell Reserves
While the Wall Street indices lost 3%, the S&P Merval barely moved and debt securities recovered, with a country risk below 2,000 points. The free dollar rose two pesos to $379
The trend has infected Argentinian assets and among Argentinian ADRs, gains of IRSA (+5.9%), Cresud (+5.4%) and Banco Supervielle (+5.1%). index S&P Merval of the Buenos Aires Stock Exchange increased by 0.9%, to 250,465 points. The leading panel of the Buenos Aires Stock Exchange exceeded 267,000 points in January, a symbolic record.
At the same time, the dollar foreign exchange obligations rose 1.9% on average, based on benchmark Global stocks traded on Wall Street. He countries at risk JP Morgan, which measures the spread of U.S. Treasuries yields with similar emerging issues, cut about 30 whole numbers for Argentina, for 1,966 stitches The essential, at 6:20 p.m.
Buenos Aires’ Merval Index maintains a 24% gain in pesos so far in 2023, which is reduced to 16% when measured in dollars “counted with settlement”
“Stocks are preferred by many traders because they believe they will have more upside potential than bonds. We are leaning towards energy. is a mistake to be bought and tied up in dollars blue. If the next one does things seriously, we have a strong asset rise ahead of us. It’s not economics, it’s politics that determines what comes in terms of investment,” the economist and business adviser said. Salvador DiStefano.
Markets: dollar bonds rebound 5% and the stock market retreats after the Carnival holidays
Global stocks rose 4.9% on Wall Street on opportunity buying after February’s heavy losses. The S&P Merval loses 1.7% to 244,719 points
“Even though Wall Street remains virtually neutral so far in 2023, with the exception of the S&P500, which is accumulating a gain of just over 2.5% over said period, all three indices have already begun to show signs trend reversal at the beginning of this year”, contributed Mauro Natalucciaccount manager at Rava Bursátil.
The government is in talks with officials from the Monetary Fund International (IMF) to relax the foreign exchange reserve accumulation targets for 2023 under the program signed a year ago. According to the latest review, Argentina is targeting an increase in net reserves of $5.5 billion by the end of March and $9.8 billion by the end of the year.
Financial day: Dollar bonds rebounded 5% on Wall Street and the Central Bank cut the market’s selling streak
As the S&P Merval lost 1.7%, in a post-Carnival holiday price adjustment, debt securities partially recovered from the February debacle. The free dollar closed at 377 pesos
The economy is suffering from high inflationary pressures, high fiscal spending, low reserves in the central bank amid a long drought that is hitting exports.
“In the first month of the year, the industry managed to register a 2.9% lead in the year-on-year measure, although the lead was more related to the weak start we saw in the month of January of last year than a real improvement,” he said. specified in an inform the consultant Orlando Ferreres & Associates.
According to the regional report of the HR Tech Jobint Regarding the labor market, the average salary required in Argentina is the lowest in the region, with 627 MEP dollars, the alternative exchange market to stock market shares, per month. However, if measured in official dollars, it is highest at $1,152 per month.
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