“Within the local market, without a doubt, volatility continues to be the protagonist. Both in relation to local stocks and bonds, the variation in prices shows the uncertainty of the market in the face of the different scenarios and changes made after the elections” said Ayelen Romero of Rava Bursatil.
After knowing the electoral result, President Alberto Fernández said that “in the first week of December we will send a bill that specifies the multi-year economic program” within the framework of a slow debt negotiation with the International Monetary Fund (IMF).
Finally, the Buenos Aires stock market managed to cut this Thursday with an adverse streak of four consecutive falls, and found some air, from the hand of Telecom, BYMA, and energy companies, within the framework of a day with the majority of increases for international markets.
Yesterday, dollar bonds lost up to 2.2%, as happened with the Global 2030 (GD30D). The weighted average price dropped to $ 33.28 and, with the correction of this Thursday, the monthly balance of the Globales now shows decreases of between -0.9% / 1.8%.
In this framework, the Argentine Country Risk rose 1% to 1,741 basis points.
On the other hand, dollar linked bonds in pesos operated on offer and fell 0.5% on average along the curve, despite showing a better start in the first operations.
Among CER-adjusted securities, demand remained in the medium and long tranches, particularly in TX26 and Discount, which rose 2% on average.
After the market closed, the Ministry of Economy reported that it placed five Treasury securities in pesos for a total of 119,025 million pesos. The tender received 527 offers, which involved Treasury bills: ‘Ledes’, ‘Lecer’, ‘Boncer’, ‘Bote’, ‘Lelite’ and a ‘Badlar Bond’, for an effective total of 126,063 million pesos.
“In the second tender in November, the Treasury captured 126,063 million pesos, 180% more than what is due this week,” reported the Ministry of Economy, adding that “at the end of the second of the three tenders scheduled for the month, the Treasury Nacional accumulates a positive net financing of 149,388 million pesos “.
In the tender, 13,027 million pesos corresponded to the discount liquidity letter maturing on December 15, 2021, another 22,036 million pesos were awarded in Treasury bills at a discount maturing on January 31, 2022 and 27,150 million adjusted pesos inflation rate (CER) as of June 30, 2022.
For its part, for the Treasury bond in pesos at a fixed rate of 22%, maturing on May 21, 2022, 48,394 million pesos were awarded and for the bond adjusted by CER 1.4%, maturing on March 25 In 2023, 8,418 million pesos were raised.