2023-10-23 18:32:00
Hoy 15:32
Los bonds in Argentine dollars are among worst performers in emerging marketswhile investors show restless before a second presidential round between the country’s Minister of Economy and a radical libertarian.
Many of the sovereign bonds of the South American country they fall on Monday by about two cents on the dollarafter the Minister of Economy, Sergio Massa, will unexpectedly take the lead in Sunday’s elections. massa now will face outsider Javier Mileia scenario of political polarization that investors feared.
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“The bonuses They will be sold after Massa’s surprising setback in the first round“, said Bruno Gennari, strategist KNG Securities. “Massa has incentives to continue increasing spending and tap into central bank reserves to strengthen their electoral chancesat the expense of future economic conditions.”
An Argentine ETF listed in the United States fell to 5.1%, its lowest level since March.
A volatile day due to war and political tension
On the other hand, the Israeli shekel weakened against the dollar after the Bank of Israel revised its economic projections downwardsas they intensified concerns about the economic impact of the war. The currency has retreated since the Hamas attackdespite a central bank program US$45,000 million for its defense.
Currencies of developing economies, more generally, have mixed results. The Russian ruble, the Chilean peso and the Mexican peso they go upwhile the Malaysian ringgit and the Indonesian rupiah caen.
Massa-Milei runoff: what the market expects for what’s coming
A benchmark indicator of emerging market stocks headed towards its fourth session downthe worst streak of its kind since September, due to the increase in geopolitical tensions around Taiwan and China.
The actions have lost $646 billion since Hamas attacked Israel earlier this monthbringing the loss of shareholder wealth in the developing world since July to $2.3 trillion.
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