With bonds in the red, country risk rose again to 1,450 points – Latest News, Breaking News, Top News Headlines

In a new day marked by uncertainty in the local market, Argentine assets once again closed in the red. The S&P Merval Index lost 0.48% towards 50,955 points. Meanwhile, bonds fell again and the country risk jumped 2.5 percent.

« The local market gives the sensation of repeating the stock market dynamics day after day, keeping asset prices stagnant and showing no signs of change. With caution against the increase in infections, which could be economically very difficult for the country to sustain , and a lack of drivers that can generate expectations and dissipate part of the uncertainty installed locally, in a generalized way the local sphere does not close a good wheel, « said analyst Javier Rava.

Traders noted that the volume of the wheel was low: $ 2,298 million, of which 70% corresponded to Cedear’s operations. However, papers such as Mirgor and Pampa Energía managed to close higher, with improvements of 1.73% and 1.51% respectively. At the opposite extreme, Ternium Argentina and Banco Macro fell 1.96% and 1.89% respectively.

Argentine stocks on Wall Street also had a mixed day. On the one hand, Bioceres ADR ended up 8.32% on the day. Hand in hand with the improvement in commodity prices, this paper accumulates an increase of 36 percent.

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The banknote that operates in the parallel market advanced $ 1. The financial prices were once again operating almost stable. The monetary authority would have bought about US $ 55 million.


In the fixed income segment, investors again turned to selling. Sovereign securities in dollars, foreign law recorded falls on average of 1.7%, with the GD35 leading the way. Local law bonds had the same trend with average falls of 0.8%, reaching yields between 15.5% and 18 percent.

In this context, the country risk climbed to 1,450 points, maximums that it had not seen since the end of last year and very close to the level that was registered before the agreement between Martín Guzmán and the bondholders for the debt.

« Bonds are still affected and therefore heavy, » said Gustavo Ber, an economist at the consulting firm Estudio Ber, adding that « the high yields, around 16%, fail to arouse interest in the economic outlook, » he added.

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