Monday, December 6

The S&P Merval rose for the third wheel and reached a new record in pesos


The Greater increases were registered by the shares Ternium (6.6%), Central Puerto (5.9%) and Aluar (5.3%); while Cablevisión finished with a slight decrease (0.2%).

Likewise, to take into account, and despite the fact that in pesos several companies transfer the increases in the exchange rate to price, the ADRs support the bullish will without a doubt, since there were important increases in their prices above 2% in various assets and up to around 6% in the case of banks that, as a whole, were the big winners in the New York square.

In Wall Street, the securities of Edenor (9.4%), Central Puerto (7%) and Grupo Financiero Banco Galicia (5.5%), while the most important decrease was registered by Ternium (14%)

“To the rhythm of Expectations about the legislative elections, already in the final stretch, is that the ADRs continue – even with greater volatility – exhibiting tactical bets that would seek to promote another ‘electoral trade’, as happened before the PASO, which is not accompanied by the bonds since they are still conditioned by an unfavorable technical position “, highlighted the economist Gustavo Ber.

He added: “Still, the eyes are directed towards the post 14-N, since investors recognize that the moment will come to evaluate the political reactions -subject to the results and the map left by the elections- and thus the economic strategies“.

“It happens that only if a broad consensus is reached among the main forces could an agreement with the IMF be approached, which includes correcting the serious accumulated imbalances in time, since otherwise the risks of radicalization and leading to a crisis increase. “, he raised.

Wall Street

US stocks rose and major indices hit record highs, after the Federal Reserve said it will begin cutting its monthly bond purchases in November with plans to end them in 2022, an announcement investors were expecting.

The S&P 500 and the Nasdaq posted record closing highs for the fifth consecutive session, while the Dow Jones Industrial Average did so for the fourth straight day.

The benchmark S&P 500 turned into positive territory and ended up solidly higher after the US central bank announced its plans to start reducing its bond purchases.

Investors had widely anticipated the decision as the Fed is withdrawing its monetary support as the economy recovers from the coronavirus pandemic.

The Dow Jones Industrial Average rose 104.95 points, or 0.29%, to 36,157.58 units, while the S&P 500 gained 29.92 points, or 0.65%, to 4,660.57 units. The Nasdaq Composite added 161.98 points, or 1.04%, to 15,811.58 points.

Bonds and Country Risk

The JP Morgan bank’s country risk fell four units to 1,737 basis points. This index restarted on September 10, 2020 in the area of ​​1,083 points after a millionaire sovereign debt restructuring.

Sovereign bonds in dollars did not catch up with the excellent moment that equities are going through. In this sense, both laws generally closed with mixed quotes.

Among these, the largest bonds traded (AL30 and GD30) concluded negative, which shows the little enthusiasm that they transfer to price.



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