Despite Bank holiday and the lack of markets in Argentina on Holy Thursday, the bonds and local actions did operate abroad. However, the results of the day were not the most optimistic.
In that sense, the global bonds fell more than 5% and those that are governed by local legislation sank around 3%. Meanwhile, the shares and ADRs of Argentine companies that are traded in dollars in New York operated with mixed numbers, but most were in the red.
Telecom (+4.7%), Corporación América (+3.3%), Central Puerto (+2.7%), Edenor (+2.5%), Ternium (1.1%) and Globant (0.3%) they were the only winners. On the contrary, the long list of setbacks was led by YPF with a -2,8%, followed by Take off (-2.6%).
At the close of the technological Nasdaq rose 0.8% and the S&P 500, 0.4 percent.
Bonds suffer and fall after the ruling in London for the “GDP coupon”
It should be noted that this Thursday, the managing director of the International Monetary Fund (IMF), Kristalina Georgievapointed out that the global growth will expand less than 3% this year, ahead of next week’s IMF and World Bank meetings. “With geopolitical tensions rising and inflation still high, a strong recovery remains elusive,” he said.
The words of the director of the IMF added to an already battered country that has just accumulated two negative rulings in New York and London. Although the businesses on Wall Street began to rebuild their positions around local noon, the trend quickly reversed and ended lower.
The IMF projects that world growth will remain around 3% for the next five years, the lowest medium-term growth forecast since 1990 and well below the average of 3.8% of the last two decades.
Sovereign bonds plummet after Sergio Massa’s “poorly executed” measure
Risk country
He country risk also succumbed to the negative streak and grew by 1.6%. The index prepared by the consulting firm JP Morgan remained above 2,400 basis points and ended the day at 2.472 pb.
RM
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