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ARS-DENOMINATED DEBT POSTED A POSITIVE SESSION IN A CONTEXT WHERE OVERNIGHT RATES EDGED SLIGHTLY HIGHER: both the one-day repo and the caución rate stood at around 21% NAR. In USD terms, CER bonds were again the top performers, rising by 1.0%, alongside dual bonds with similar gains. Lecaps followed with an increase of 0.7%, while dollar-linked instruments rose by 0,1%.
DOLLAR-DENOMINATED BONDS ROSE BY 0.2%, AMID A POSITIVE GLOBAL TRADING SESSION. They outperformed broader emerging market debt. Global bonds gained 0.3%, driven by the short end of the curve, which rose 0.6%, while Bonares declined by 0.1%. On the back of this performance, country risk held around 611 bps. Meanwhile, Bopreal bonds increased by 0.5%.
THE OFFICIAL EXCHANGE RATE ROSE BY 0.3% TO CLOSE AT $1,391.69, STANDING 19.6% BELOW THE UPPER BAND LIMIT. Financial dollar rates, by contrast, declined: the MEP fell by 0.5% and the CCL by 0.6%, closing at $1,426.8 and $1,479.7, respectively, while the swap spread remains elevated at around 3.7%. Meanwhile, the Central Bank (BCRA) continued to purchase foreign currency in the official market, albeit at a slower pace, acquiring USD 30 M during the session and accumulating total purchases of USD 4,492 M year-to-date. Gross international reserves, for their part, decreased by USD 179 M to close at USD 42,248 M.
THE MERVAL ROSE 0.2% IN LOCAL CURRENCY AND 0.8% IN USD (CCL), DRIVEN BY THE MATERIALS SECTOR, REACHING USD 2,032. The top gainers were Aluar (4.2%), LOMA (3.7%), and Ternium (3.3%). Meanwhile, banks and the communication sector offset part of the gains, with BBVA (-1.4%), Telecom (-1.0%), and Supervielle (-0.9%) leading the declines. Argentine stocks listed on Wall Street rose 0.9% on average, led by Bioceres (17.5%), LOMA (3.3%), and Vista (2.8%), while the biggest losses were seen in Ternium (-2.6%), BBVA (-2.3%), and Telecom (-2.1%).
