Due to more global noise, stocks and bonds fall: country risk jumps and the dollar reaches $1,515 in banks

Argentine bonds lost momentum that they had after the improvement in the debt rating that Moody’s announced and that had led on Wednesday to the country risk falling again to 410 basis points.

This Thursday, after a new escalation in the war in the Middle East, which took oil to US$100 a barrel, dollar bonds on Wall Street fall up to 1.1% and take the risk to 429 points, an increase of 4.6%. This value marks the surcharge that Argentina should pay compared to that paid by United States debt securities, considered the safest.

Las Argentine shares on Wall Street fall up to 5%especially banks, while firms linked to oil, such as YPF, Tenaris, Ternium or TGS, rise up to 2%. The Merval, meanwhile, fell 1.1% in pesos and 1.8% in dollars.

The New York Stock Exchange opened this Thursday in the red and its main indicator, the Dow Jones drops 1%while the Nasdaq cae 2.3% consequence of the skyrocketing of oil and concerns about the forecast of expenses in artificial intelligence of Alphabet (Google) and Tesla (their shares collapse 6.5% and 13%, respectively).

The dollar rises to $1,515 seller in Banco Nación and at the wholesale level advances to $1,483, 0.34%. In this way, the bullish trend of the latest wheels. Operators indicated that, unlike what happened weeks ago, The rise in the exchange rate is not accompanied by any official intervention try to keep him at bay.

On Wednesday, as indicated in PPI, exchange hedging offers in the secondary market remained limited. “Open interest in futures increased barely US$ 34.5 million, accumulating an increase of only US$ 9 million since July 15, well below the US$ 862 million registered during the first fortnight of the month,” they noted regarding the previous movement.

In parallel, they added: “The BCRA’s dollar purchases also continue to moderate. On Wednesday the monetary authority acquired US$ 25 million, the smallest amount from the end of June (excluding other wheels with purchases of the same amount). “In this way, the four-wheeled moving average fell to US$35 million per day, well below the US$279 million observed during the first four days of last week.”

Anyway, The organization led by Santiago Bausili already adds purchases for more than US$ 1.5 billion in the exchange market this month, so that it exceeds that accumulated throughout June, when it reduced its intervention pace to a minimum to avoid greater pressure on the dollar.