Thursday, December 01, 2022

ADRs and bonds rose up to 8% on Wall Street; Country’s risk crosses 2,400 mark

In the local market, which had been wary of the soybean dollar’s earlier operations, the S&P Merval fell in fear as investor appetites. The major index fell 0.7% to 137,309.26.

Massa, and the president of the Inter-American Development Bank (IDB), Mauricio Clever-Caron, announced after markets closed in Washington on Tuesday that they had managed to unlock credit from that organization for about $3,000 million for Argentina. are. At the end of the year, $1,200 million of which will be allocated to strengthen Central Bank reserves.

In a press conference, Massa said that “The freely available operations are not only confirmed, but will be larger than expected and secondly, the portfolio confirmation by the end of the year and the launch of portfolio discussions for the year 2023.”

The credit plan includes loans for $1,200 million to consolidate reserves, of which $500 million will be distributed on 30 September and the rest on 30 December of the current year.

The package includes a $1,933 million loan program to be signed and approved before the end of the year. Whereas by 2023, the agency plans to issue new loans for $1,800 million.

wart This Tuesday they organized their first activities in Washington, where they met ricardo zunigaAs part of a tour of the United States, the State Department’s Under Secretary of State for Western Hemisphere Affairs and Special Envoy for the Northern Triangle, which is allowing him to meet with businessmen, investors and officials from the Joe Biden administration and the IMF.

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He also had a work meeting with Jack Rosen, President Dale American Jewish Congress, Massa, along with the Secretary of Economic Policy, Gabriel Rubinstein, spoke with Rosen about investment opportunities in Argentina in the fields of technology, mining and energy.

Minister met him this afternoon Ero Augerott, Amazon Group’s Director of Political Affairs, and with that AWS Southern Cone Manager, Juan Pablo Estevez, With whom they agreed on the importance of moving forward in investments linked to the knowledge economy, with the Directors expressing their support for the Argentina Program 4.0 plan.

Massa also held meetings with Volkswagen directors, who confirmed the $250 million investment in the coming years.

On the other hand, the main indices on Wall Street closed with a fall. In the first session after the Labor Day holiday and the US summer break, traders evaluated new economic data in a volatile session.

A survey by the Institute of Management and Supply (ISM) revealed that US services sector boomed in August For the second consecutive month, orders and jobs increased, while bottlenecks and price pressure eased. However, data from S&P Global shows that the services sector purchasing managers’ index is lower than initial August estimates.

Stronger-than-expected readings from US Services ISM supported expectations that The Federal Reserve continues to raise interest rates to control inflation.

rate sensitive stocks and Microsoft fell nearly 1% Because the benchmark US Treasury yield reached its highest level since June. Manzana, Who will launch the new iPhones next Wednesday is also lost ground.

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Thus, the S&P 500 fell 0.4% to end at 3,910.16, while the Nasdaq fell 0.7% to close at 11,545.92. The Dow Jones Industrial Average fell 0.5% to 31,155.72.

On the other hand, in the fixed income segment, Argentina’s titles in the Americas climbed by almost 3% thanks to Global 2030, After inactivity a day earlier due to a partial holiday in the US market, which caused the Argentine country’s risk appetite to fall sharply to 2,400 points (it had 49 units at 2,378 origin points).

“We are impressed by the strength of the smaller part of the curve. On several occasions we have highlighted the lack of ‘carry’ in small instruments, where their core value lies in the possibility of capital mobilization in the year 2025 (as in today). Day is remote)”, commented PPI, with analysts weighing Global 2035 within the new indentured bond.

At the same time, bonds in the local market closed with a loss of up to 4 per cent. The biggest decline was noted by Global 2041 (-4%), Global 2038 (-3.2%) and Global 2030 (-1.1%). That was the only increase for him. Bonner 2038 (+0,2%).

Is the rally in pesos over? Appetite for periods in local debt eased this Tuesday, and there was a broad decline in instruments since 2023. With the exception of TX24 (+0.4%), Adjusted for inflation, closed in the red by up to 1.6%.

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