Sunday , January 29 2023

Risk of land without braking: exceeded 800 points; Merval sank 2.2%



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Indicator prepared by JP.Morgan Bank rose 2.2% (17 units) to 804 points, at the rate of the modern bond fell. This is the highest level for more than four years, as on December 16, 2014, it reached 823 units.

Thus, by now this year, the indicator accumulates a jump of almost 130%, from 351 points registered at the end of 2017; while in the month it climbs almost 14%.

Country risk "is also affected by a decline in the US 10-year yield by" flight to quality ".

In fact, these yields fell minimum of eight months (2,748%) and return curve, at a session in which investors assessed Federal Reserve plans to continue to tighten monetary policy.

On Wednesday, the US central bank adopted a slightly more moderate tone than previous meetings, but kept up the plan to continue withdrawing support for the economy it considers strong.

The Fed has proposed "some" additional additional increases in interest rates and It did not stop selling its huge debt portfolio.

"I think that some hope that they will see something of a tremendous change in the statement, actually reduce economic prospects or even have a clearer connection with dependence on economic data or the like" said Blake Gvinn, a strategist for interest rates at Natwest Markets in Stamford, Connecticut. "So there may have been a bit of disappointment about that," he added.

In this context, major bonds in dollars (operating in pesos) are closed with widespread losses. Discount under the Argentinean Act.

Merval

The portena torba fell on Thursday, after leading the sale among leading stocks, after confirming the Fed's rate hike.

Index Merval de Bolsas and Mercados Argentinos (BIMA) He lost 2.2%, to 29.305 points after having climbed 0.6% on Wednesday.

The shares of Pampa Energija stand out at a loss of 6.4%, followed by shares of Metrogas (-4.8%); and those Banko Macro (-4%).

The Federal Bank raised interest rates on Wednesday, but predicted lower growth rates in the coming year and noted that the tightening cycle came to an end at a time of instability in financial markets and a slowdown in the economy. the world

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