Meanwhile, the ADR dynamics of Argentine companies listed on Wall Street ended unevenly. The biggest increases were for Corporación América (+4.3%), Banco Macro (+3,4%) y Galician Financial Group (+2.8%). led the casualties Tenaris (-2.3%), Irsa (-2.2%), and Despegar (-1.9%).
Bonds and country risk
Meanwhile, the dollar bonds showed a downward trend in all cases. The largest decreases were for the Global 2041 (-3.7%), and the Bonar 2030 (-3.3%). In turn, the Argentine country risk increased 0.1% to 2,157 points.
“The (bond) market remains short, the flows return to the ‘Money Market’ funds; thus the market is on the defensive and begins to expect a lower devaluation”said Adcap Grupo Financiero.
The dollar-linked sovereign bonds closed with variations of 0.25% for both maturities. The duals, meanwhile, operated mixed, with falls of 0.7% for the June and July maturities and a rise of 0.35% for September. As for the CER segment, the short end of the curve traded almost unchanged, while the longer maturities rose 0.35% on average, Grupo SBS said.
The Ministry of Economy managed to capture $326,610 million this Wednesday in the last tender of the year, and ended December with a positive net funding of almost $700,000 million.
Thus, the portfolio led by Sergio Massa reached a refinancing rate of 521%, while the offers (1,426) reached the $606,000 millionalmost 10 times over the expected maturities (just under $70,000 million).
The financing obtained was represented entirely for fixed-rate instruments maturing in 2023.