In the middle of the political crisis, the local financial market seems to react calmly this Monday. The Buenos Aires bag begins the week with a rise of 0.6% and, despite the fact that sovereign bonds in dollars are trading in the red, the country risk scores a new low and it is located at 1,595 points.
The major Wall Street indices they opened this monday with reds: Nasdaq leads declines with 1% drop; while the Dow Jones and the S&P 500 lose 0.5% and 0.6% respectively,
So the indicators take a breather after the records they reached last week. Investors in the New York Stock Exchange move cautiously and take profit as the US corporate earnings season continues, which is generally reflecting how the economy begins to take off following the hit of the covid-19 pandemic.
So far, all the major US banks have performed well in the first quarter of 2021, but especially the fund and investment managers Goldman Sachs, Morgan Stanley or BlackRock broke expectations.
At the same time, Argentine papers listed on Wall Street they move on mixed terrain. On the side of the rises, it stands out Transportadora de Gas del Sur, that earns 1.6%. At the other extreme, the ADR of Americ Corporationa presents the worst performance at mid-wheel, with a fall of 2.2%.
On the side of dollar bonds, no trend change seen. At mid-wheel, most operate in the red, with the exception of the AL35, which recovers 0.2%.
“Although the local situation did not present the best context for Argentine assets, dollar bonds did not react to the bad news“, PPI analysts explained. “The political noise due to the restrictive measures taken by the National Government, together with the economic consequences of this, did not seem to matter to the bonds,” they added.
The country risk disarmed its upward trend. But, although it fell from the highs of last week, it remains close to the 1,600 point barrier
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