ARS-DENOMINATED DEBT HAD A WEAKER SESSION AND TRADED LOWER ACROSS ALL SEGMENTS. Dollar-linked bonds were the exception, rising 0.2%, broadly in line with the move in the exchange rate. Meanwhile, CER-linked bonds declined 0.8%, in line with dual bonds, which also fell 0.8%. Lecaps edged down 0.5%, in a session where overnight rates held around 21% NAR.

‍DOLLAR-DENOMINATED BONDS DECLINED BY AN AVERAGE OF 0.2%, while Bonares edged up 0.1%, driven by gains in the long end of the curve, whereas Global bonds fell 0.3%, with losses concentrated in the short end. With this performance, country risk remains around 615 bps. Meanwhile, Bopreal securities rose 0.5%.

‍THE OFFICIAL EXCHANGE RATE ROSE 0.2% TO CLOSE AT $1.395,1, STANDING 19.4% BELOW THE UPPER BAND LIMIT. Financial FX rates also moved higher: MEP increased 0.3% and CCL rose 0.4%, closing at $1.430,4 and $1.486,3, respectively, while the spread remains elevated at around 3.9%. Meanwhile, the central bank continued to purchase foreign currency in the official market, buying USD 93 M during the session and accumulating USD 4.585 M in net purchases so far this year. Gross international reserves declined by USD 194 M to USD 44.442 M.

‍STOCKS FELL 1.1% IN PESOS AND 1.6% IN USD (CCL), WITH THE MERVAL CLOSING AT USD 2,000. The downside was driven by the materials and banking sectors. The biggest declines were seen in Aluar, COME, and Edenor, posting losses between 3.5% and 6.1%. Meanwhile, the energy sector benefited once again from higher oil prices, with TGN, Pampa, and TGS leading gains of between 1.2% and 5.6%. As for stocks listed on Wall Street, they declined by 1.2% on average, led by Bioceres, Cresud, and IRSA, with losses ranging from 2.4% to 6.8%. In contrast, MELI and YPF rose 1.9% and 0.7%, respectively.