Accelerated settlement of investor bonds dropped to 10.5%

Among the most traded bonds, Losses of Bonar 2024 (-10.5%) and Bonar 2020 (-7.5%) were highlighted. and reduction under local legislation (-7%).

"The latest measures to limit exchange rate arbitrage have also provoked a negative reaction, not only in terms of badet prices, but also with regard to the evolution of the" gaps "that have widened further, exchange control being strengthened, " said Gustavo Ber, economist at Estudio Ber.

At the same time, the dollar on the wholesale market almost closed at 56.11 dollars, with a firm participation of the official banks when the price reached 56.20 units, the operators said.

As, The country risk prepared by JP Morgan Bank increased by 72 units to 2,165 basis points. The postponement of the maturity of the short-term public debt maintains this high level, for all the risks of renegotiation with the debt in general, explain in the square.

But also the delay by the IMF in disbursing the $ 5.4 billion expected in the middle of the month has increased tensions between investors.

According to the versions circulating around the tables, the international organization would wait after the elections of October 27 to define the disbursement. Finance Minister Hernán Lacunza will make a final attempt in the last week of September to avoid this delay., during a meeting with the authorities of the multilateral agency.

In foreign markets and in the badysis of banks and investment funds, they badume that the resources agreed with the multilateral agency will not be added to the reserves of the Central Bank as long as the electoral landscape will not have been clarified.

However, in the last few hours, we knew that Large companies that have to pay their debt abroad and have the money to do so are not able to use them to meet their creditors.

This is the case of IRSA, which had to cancel a US $ 130 million maturity, which has not been paid to holders of the foreign tradable bond, regardless of whether the company has deposited the dollar. The reason is that the exchange controls, as written in the regulation of the Central Bank, prevents making payments to "legal persons". Given this situation, ADR IRSA fell 5.4% on Wall Street.

S & P Merval, supported by CCA

Unlike fixed income badets, the Merval of Bolsas and Silver Mercados (BYMA)) scored his fourth consecutive victory on Friday as he climbed 3.5%, at 30,136.28 units, because of the upward influence of the implied exchange rate ("counted with liqui"), which jumped 3.6% to $ 71.23.

The most relevant promotions of the day were recorded by the actions of Comercial del Plata (+ 13%), some investors having taken into account the importance of their participation in Transportadora de Gas del Norte and the General Fuel Company (oil company Eduardo Eurnekian).

The roles of Banco Macro (+ 6.4%) and Edenor (+ 6.3%) completed the podium of the main increases.

The best day was that of the general panel: TGLT jumped by 15.6% and Cammuzzi Gas Pampeana by 15.4%.

The volume was acceptable given the context: once again exceeded one billion dollars. There were 90 increases, 16 losses and 4 actions without change.

On Wall Street, though, Argentina's ADRs ended with a majority of setbacks: Banks lost up to 5.5% (Galicia and Supervielle), while energy companies fell to 3.5% (Pampa Energía).

Are foreign operators they have returned to a more wait-and-see attitude after the technical rebound tested in recent days, following the consultation launched by Morgan Stanley Capital International's (MSCI) index manager on Argentina's permanence in the category of Emerging Markets, commented on the market