Financial day: There was tension with the financial dollars and the “counted with liquid” exceeded $312

Strong “soy dollar” sales are not eliminating uncertainty about the dollar supply in the market.

Different versions are circulating on the market, from an extension until the end of the year of the “soy dollar”, with the inclusion of more export sectors, to greater restrictions on the “tourist dollar” and the establishment of a “Qatar dollar” to limit the foreseeable outflow of foreign currency for spending abroad.

In principle, the ban on blocking beneficiaries of the $200 soybean dollar from this week’s access to the MEP dollar and “counting liquidation” and the inability to buy “savings dollars” for grant beneficiaries gave greater impetus to these parities implicit in the prices of bonds and stocks. The “counted by liqui” and the MEP dollar rose nearly 7 pesos or 2.3% on the day, to $312.16 and $302.90respectively at their highest prices since July 28.

And past the first jump of eight pesos last Tuesday, the free dollar it remained sideways and with an increasingly infamous delay vis-à-vis the financiers. This Thursday, the free dollar fell two pesos and it was $285 For sale.

In the foreign exchange market, settlements of the “soy dollar” remained at very high levels, despite the restrictions imposed by the BCRA. In a wholesale session with companies for $710.9 million in the spot segment, the exchange at the $200 tiered exchange rate paid approximately USD 455.5 million to soybean exporters.

The monetary entity then resold approximately $115.5 million at the official exchange rate of $145.17, closing the round with a net buyers balance of $340 million. Since the advent of thesoybean dollar”the BCRA was left with a positive balance in said period of 3,069 million of dollars.

on the last thirteen sessions active since September 6 last year, settlements reached for the soybean dollar settlement USD 5.041.5 millionabove what was forecast by the government for the course of the month, about $5,000 million.

Falling day for stocks and bonds

The monetary tightening in the US brought about a new downward trend for equities and bonds, which was cross-border. The main indicators of New York stocks fell between 0.4% and 1.4% this Thursdaya trend that extended to ADRs and Argentine stocks traded in dollars in those markets.

The declines for Argentine retail securities were led by: Globant (-8.5%), Despegar (-7.3%) and Mercado Libre (-4.2%).

In the Buenos Aires Stock Exchange, the leading index S&P Merval rose 1.7% in pesos to 149,480 points, thanks to energy purchases, although it should be noted that this increase is a decline of 0.3% when measured in dollars “cash with liquidation”.

Argentina’s dollar-denominated bonds fell by an average of 2%, according to the reference of the stock exchange’s Globals, with foreign law, while the risk country of JP Morgan, which measures the yield gap of US Treasuries with their emerging counterparts, climbed 37 units for Argentina, to 2,434 points base at 5:05 PM

“The great recovery seen in the world since Massa’s assumption is beginning to falter. One of the reasons for this is the context of emerging global debt. The surprise of the inflation rate for the United States, which did not appear to be slowing at the pace expected by the market, spurred a more restrictive monetary policy from the Fed, negatively impacting the prices of financial assets, including emerging market debt.” gave the analysts of the IEB Group (Investing in the stock market).

“Second, Argentine bonds are close to the hypothetical recovery value zone of USD 25, so we see more limited upside potential. For these reasons, we recommend investor profiles unable to serve MEPs or in liquidation to rebalance their portfolios and take advantage of the high interest rates offered by pesos debt to save some cash. to deserve. to wearshe added from the IEB Group.

KEEP READING:

Dollar live today: the free price fell to $285 and the “counted with liquid” reached $312
The Central Bank bought another $340 million in the market for its reserves
Markets: Wall Street declines dragged Argentine assets down and country risk exceeded 2,400 points
Hernán Lacunza: ‘The grenade explodes in the hand of the government after two years of making clubs’
Maturities at the IMF could put pressure on reserves until next payout from Washington

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