Argentine actions were recovered on Wall Street and the Buenos Aires Stock Exchange bounced almost 4%

Argentine assets found a respite this Wednesday, at a wheel where the attention of global investors was set at the First Conference of the United States Federal Reserve after the Trump dollar assumption. The Merval index recovered almost 4% measured in dollars And so he managed to erase part of the losses he had accumulated in the last twelve wheels. Meanwhile, the dollar bonds also crossed the day in positive and The country risk fell to 614 points.

The United States Federal Reserve announced Wednesday that it will maintain without changes its monetary policy. In this way, interest rates, as expected most of the financial market analysts, will continue in the range of between 4.25 and 4.5%. With this scenario, the main Wall Street indices ended in negative with casualties up to 0.7%, in the case of the S&P 500 index.

“The detail to consider in the Fed decision to maintain the range of the reference interest rate is that it eliminated a phrase made in December that” advances of inflation towards the goal of 2% medium term were observed ” , together with the addition of the phrase that the labor market in recent months has remained solid, “explained bridge analysts, while adding: “All this has a” Hawkish “tone (hardness)pointing at a slower pace in the cuts of the interest rate. The consequence of the very short term is a partial increase in the yields of the treasure bonds, and short -term bearish pressure in the shares of shares. ”

Argentine actions that quote on Wall Street escaped from the bearish logic and They ended with profits of up to 7.3% in hard currency, in the case of Pampa Energía. This international support pointed to the Merval index that ended with a rise of almost 4%, after 12 correction wheels.

“The ADRs have been threatening to rehearse a recovery after the taking of profits that were transiting in recent times, as a deserved and reasonable rest after the vertiginous accumulated climbs that located them on the world podium,” said economist Gustavo Ber, who He pointed out: “Not only the recent consolidation could be contributing to the renewed appetite of the operators but also the growing expectation for a new agreement with the IMF, which could even provide fresh funds in search of continuing to advance towards the exit of the stocks.”

The dollar bonds extended the recovery they had shown on Tuesday, with increases of up to 1.2 %%. The Argentine debt remains in red in the accumulated of the year, but the country risk managed to lower another step until it approached the 600 points.

“At this level of country risk, the idiosyncratic factor on the yields of the Argentine bonds weighs relatively less. The American Treasury Bond Recruitment Curve begins to gain more importance, since it sets the US financing cost floor,” They pointed in Puente and agreagar: “In that sense, the decisions of the Federal Reserve are fundamental. However, today’s decision was already completely incorporated into prices.”