ARGENTINE ASSETS HAD A MOSTLY BULLISH SESSION, with longer-duration Globals leading the gains in the hard-dollar segment on a day of relief for Treasury yields, even as country risk rose again. The peso curve advanced across all segments, led by CER-TAMAR duals and long fixed-rate bonds. On the FX front, financial dollars eased and the BCRA logged another day of solid purchases. The Merval followed with moderate gains.

DOLLAR BONDS ROSE 0.1% ON AVERAGE, with mixed performance depending on legislation. Globals advanced 0.4%, driven by the long end of the New York law curve, which gained as much as 1.7%. Bonares closed unchanged, with the long local-law tranche giving up as much as 0.9%. Country risk rose 12 bps to close at 622 bps, on a day when emerging market debt advanced 0.7%. Bopreal, meanwhile, rose 0.2%.

THE PESO CURVE CLOSED HIGHER ACROSS ALL SEGMENTS IN USD TERMS, led by CER-TAMAR duals, which gained 0.7%, followed by dollar-linked bonds and TAMAR bonds, which gained 0.6%. Fixed-rate bonds advanced 0.5%, with the long end (+0.6%) outperforming the short end (+0.4%). CER bonds rose 0.4%. In the short-term money market, the one-day caución rate rose to 22.8% NAR, while the repo rate fell to 21.4%.

THE OFFICIAL EXCHANGE RATE CLOSED PRACTICALLY UNCHANGED AT $1,513.9, down 0.2% so far in October. The MEP dollar fell 0.2% to $1,532.0 and the CCL fell 0.2% to $1,616.3, with the swap spread at 5.5%. Meanwhile, the BCRA bought USD 182 M on the day and has accumulated USD 914 M in October and USD 15,494 M so far this year. Gross reserves, meanwhile, rose USD 318 M to close at USD 50,040 M.

THE MERVAL ROSE 0.4% IN PESOS AND 0.6% IN CCL DOLLARS, closing at USD 1,767. It was a session of moderate gains, led by real estate, financials and basic consumer staples, while energy, industrials and non-essential consumer stocks lagged. On the local panel, Mirgor (+6.2%), Holcim (+5.4%) and Banco Supervielle (+4.5%) led the gains, while YPF (-2.4%), Transener (-1.6%) and Banco de Valores (-1.0%) led the declines. In New York, ADRs rose 1.0% on average. Globant (+5.8%), Grupo Supervielle (+3.9%) and BBVA (+3.2%) led the gains, while Ternium (-3.2%), Adecoagro (-2.8%) and YPF (-1.9%) led the declines.