Tuesday, February 27

Bonds extended gains and Country Risk scores the biggest drop in 15 days

Investors, meanwhile, are closely following the slow negotiations with the IMF to reschedule a millionaire debt and the news about the increases in Covid-19 cases both in Argentina and in the rest of the world.

Despite recent bond improvements, Portfolio Personal Inversiones warned that bond prices indicate a probability of default in four years of 80%, lower than the 87% observed a month ago but still high.

“The titles are saying that Argentina will not be able to avoid a restructuring, no matter how much change of government there is, and this is related to the enormous demand for dollars that is going forward (we are talking, specifically, that the country needs some US $? 15.9 billion annual average). The agreement with the IMF is a necessary condition, although not sufficient, “they deepened.

It should be remembered that the weekly financial activity in Argentina will last until Thursday, due to the holiday of December 31, the last day of the year.


Meanwhile, the S&P Merval erased its earnings at the beginning of the day and closed with a new fall, of 2.1% in pesos to reach 82,784 units, a minimum of six days.

Within the leading panel, the shares that lost the most were Aluar (-5.1%), Banco BBVA (-4.9%) and Banco Macro (-4.9%). On Wall Street, ADRs exhibited dissimilar closings.