.svg){kind=small}
.svg){kind=small}
.jpeg)
SOVEREIGN BONDS IN DOLLARS FELL 1.2%, DRAGGED DOWN BY A MORE PESSIMISTIC GLOBAL BACKDROP AND IN LINE WITH THE DECLINE IN EMERGING MARKET DEBT. Along the curve, Global bonds led the losses, dropping 1%. In this context, country risk rose again to 602 bps. In contrast, BCRA instruments showed a positive tone, gaining 1.0%.}
LOCAL CURRENCY DEBT POSTED ANOTHER MIXED PERFORMANCE, WITH LECAPS RISING 0.1%, SHOWING STRONGER GAINS IN THE LONG END. CER bonds traded flat, with improvements in the short end and declines in the long end. Dollar-linked bonds were also unchanged, while dual bonds fell 0.2%. As for rates, Tamar declined again, closing at 28.8%.
THE OFFICIAL EXCHANGE RATE ROSE 0.3% TO CLOSE AT $1,399.6, REMAINING 16.9% BELOW THE UPPER BAND AND ACCUMULATING A 0.7% DECLINE SO FAR THIS MONTH. Meanwhile, financial dollars showed mixed performance, with the MEP rising 0.4% and the CCL falling 0.3%, closing at $1,423.6 and $1,468.1, respectively, while the spread narrowed to 3.1%. On the other hand, the BCRA resumed FX purchases in the official market, buying USD 58 M and bringing total monthly purchases to USD 767 M. Gross reserves fell by USD 226 M, mainly due to the drop in gold prices, closing at USD 44,495 M.
THE MERVAL ROSE 1.2% IN PESOS AND 1.4% IN USD (CCL), ONCE AGAIN SUPPORTED BY ENERGY STOCKS AND HIGHER OIL PRICES, CLOSING AT USD 1,835. The best performers were YPF, Edenor, and Pampa, which gained between 2.4% and 4.3%. Meanwhile, Transener dropped another 6.8%, and IRSA declined 3.4%. US-listed Argentine stocks were flat on average. Gains of between 1.8% and 9.5% were seen in AdecoAgro, YPF, and Edenor, while Bioceres, Corporación América, and MELI fell between 2.2% and 10.5%.
