Argentine bonds and stocks rise sharply after US rate cut

The rate, which was at its highest level in the last 22 years, has now dropped half a point, to the range of 4.75-5 percent. It was the first cut in four years aimed at improving the US economy. The lower yield in the US encourages capital to look for other places.

The first effects began to be seen on Thursday in Argentine bonds and shares listed abroad. Debt securities rose by up to 1.30% and The Global 2030, one of the most followed by investors, reached US$ 60the peak that had occurred at the beginning of Javier Milei’s government.

He country risk falls from 1,363 to 1,320 basis points.

Meanwhile, all the Argentine stocks rise on Wall Street, hand in hand with the Nasdaq climbing 2.8% and of the Dow Jones up 1.3%. Banco Macro’s ADR led the rises, with 4.3%, followed by IRSA, with 3.8%. Pampa and Corporación América also showed increases above 2%.

He Blue dollar loses 25 pesos or almost 2% this Thursday and It is sold at $ 1,235the lowest value since June 3. The exchange rate gap reaches 28.35%. The MEP dollar rises to just $1,206.