Due to the strong profit taking on Wall Street, all markets fell. (EFE)
The The New York Stock Exchanges renewed profit taking this Tuesday, After recording historic highs last week, and that negative dynamic for the second consecutive round affects all financial markets. Anyway, after a file Statement from the Chairman of the Federal Reserve In the US, Wall Street reduced the negative trend.
The ADR Of the Argentine companies that are traded in dollars on Wall Street They lose up to 7%, with Grupo Supervielle at the top.
Globant and Mercado LibreThat lost as much as 8% when the Nasdaq is down 3.7% now Cut 2 percent. The meltdown in tech stocks corresponds to a cumulative 5% drop on two wheels in the New York Technology Index.
The Buenos Aires Stock Exchange Merval is in decline for the fourth round in a row, accumulating a loss in the peso of 9%
The Argentine Stock Exchange boosted its losses on Tuesday due to equity-led sales in the financial sector, at times of investor uncertainty over the country’s financial condition, which is negotiating an agreement with the International Monetary Fund for an expanded plan. But its shape is flats.
Indicator Standard & Poor’s Merval From Buenos Aires Decreased 2.5% In the peso it’s just over 48,000 points at 1:30 pm in Argentina, after falling 6% in the previous three wheels.
“In February the stock market can breathe a bullish atmosphere: the S&P Merval hit the bend, rallied in pesos, but in dollars much more – twice that – but we can extinguish the lit candle from the rally. We start the week with the “VIP vaccination” scandal.We know how it started, but with a presence Election year Before the Legislative Council and next week, It is not known how high he might climb. The analyst commented that with everything we seem to be failing Jorge videoFrom the Key Stock Market.
Regarding sovereign bonds, dollar issues With foreign law subtract 1% On average, to accumulate a decline of more than 10% so far in 2021.
Main reference security Bonnar 2030 in dollars with foreign law (GD30) At $ 38, with A. 17.3% internal rate of return.
Dollar-denominated bonds operating abroad kicked off the week with losses, as investors looked to raise the interest rate. Treasury bonds Americans are in negotiations with International Monetary Fund To obtain credit from the extended facilities. Analysts considered Find merchants.
The Country of danger From JP Morgan, which measures the US Treasury bond rate differential with its emerging counterparts, rises to a new high in about six months for Argentina, since debt swap headlines appeared on the market, to 1,520 basis points, 19 integer increments on the wheel.
Stocks in the United States reduced the sell-off that sparked investor doubts about their valuation, after the Fed Chairman Jerome PowellTo Congress.
Powell said US economic recovery remains ‘mixed and far from complete’ It will be “some time” before the Fed will consider changing its policies to help the country return to full employment.
The Fed chairman appeared before the Senate Banking Committee for the first time since the Democrats won the White House and seized control of both houses of Congress.
Great values of technology have fallen since the Wall Street opening, in a market worried about High interest rates on Treasury bonds from the United States 1.37% p.a. for 10-year issue), The highest return in a year, which also affects the riskiness of the Argentine country.
I kept reading:
Dollar Today: Free Dollar remains at $ 147 and the gap remains at its lowest level in 10 months
Fiscal Day: Continued decline in bonds and state risks exceeded 1500 points, the highest number since the stock market
JP Morgan has warned that net reserves amount to $ 3 billion
The exchange rate gap is already below 60%, but at a high cost: Country risk is back to the limit