:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/4WLKH3NXQXA4YLSEBQSBAEIW5U.jpg "Markets: Large falls on Wall Street send Argentinian stocks and bonds tumbling 1")
Argentina’s stock market operated with a definite downtrend in business on Friday, hurt by greater global risk aversion after US Federal Reserve (Fed) officials said interest rates likely should have been lowered. raised more at the beginning of the month.
Financial day: for energy payments, the BCRA made the biggest sale on the market in 15 months
The main indicators of the new york stock exchanges mirrored wide falls within a range of 0.5% to 1.4%with wider reds for tech titles.
The bad mood outside is partially offset on the local market by selective purchases of very liquid shares to protect against the galloping inflation which is affecting the country and which could still approach 100% this year.
The leading repository S&P Merval of the Buenos Aires Stock Exchange loses 2%, to 252,200 pointsat 11:50 a.m., after gaining 0.9% the day before.
Markets: the Argentine stock market falls and ends a series of three consecutive increases
The equity market subtracted 1.4% to 254,969 points and decoupled from the rebound on Wall Street. Global bonds lost 1.2% on average, with a country risk of 1,997 points
“After the bullish momentum that (local equities) gained in mid-December, prices entered a zone of uncertainty which seems, in recent days, to have been overcome,” he said. Mauro Natalucciaccount manager at Rava Bursátil.
Argentinian dollar bonds fell an average of 1.4%, according to the Globals stock exchange benchmark – under foreign law – traded on Wall Street. He countries at risk of JP Morgan increased by six units in Argentina, in 2,055 dots basic.
Dollar sovereign bonds have posted losses in recent sessions, “extending their negative streak after the inflation news in January, as investors closely monitor this variable, international reserves and the fiscal deficit in a year of political uncertainty by the presidential elections”, estimated the analysts of Research for Traders.
Financial day: the BCRA continues to sell and stocks are the refuge against inflation
The entity accumulates in 2023 a sales balance of 713 million dollars. The Free Dollar closed at $379. The stock market is supported as a hedge against high inflation and rose for the third round in a row
“Economic data from around the world is fueling hopes that the global economy will not face as hard a landing as feared a few months ago, even with rates possibly remaining higher than expected,” they said. pointed out the analysts of Allaria Ledesma Sociedad de Bolsa. .
With this daily performance, foreign currency securities continue to post very high rates of return – among the highest in the world – and fluctuate between 23% and 42% annually.
The bone wholesale pricea kind of preview of what can happen later with values to the consumer, achieved a 100% annual increase in January, reports the INDEC. In other words, the Argentine economy is already breaking -after more than three decades- that dangerous threshold that separates inflation from hyperinflation.
According to a study prepared by the IAEF (Argentina Institute of Finance Executives) and the consulting firm Econviews, in January 2023 the Financial Conditions Index (ICF) climbed by more than 37 points, from -110.7 to -74.9 points. This is the third consecutive increase which has enabled it to recover more than 70 points over the last 3 months of the year. It is the biggest monthly rise since May 2020, when the index started to rebound from the bottom of the global lockdowns. Both local and international conditions contributed to the improvement and are in line with the good performance of Argentinian and global assets.
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