Bonds have collapsed again and country risk has risen after the announcement of reperfilamiento

The reaction of investors to the announcement of renegotiation of the debt The public was not caught by the market as a positive signal. This is at least what the market activity showed on Thursday, which marked a further collapse in prices of two of the bonds included in the new inflation and an increase in country risk, which has reached 2276 points.

The government debt that the government will seek to rebalance includes short, medium and long-term bonds that are less than 10 years old. There will be in the short term Letes in dollars and Lecap, Lelink and Lecer in pesos. Among mid-term markets, which will have new, longer payment terms, the 2020 and 2024 Bonars recorded market sales on Thursday, which he dropped his quote even more.

These two titles closed the day with landslides of 8.6% in both cases. The peculiarity was that at noon, the 2020 Bonar was able to recover its 12%but after hours he sank again. According to badysts, investors do not yet have accurate information on the terms of payment.

This uncertainty became more evident by observing how long-term bonds were ending whose payments would not be renegotiated. The reductions 2033 and 2038 ended in positive territory, 0.4% and 7.7%respectively.

In this context, the country risk has increased by more than 200 points and closed this Thursday at 2276 units. The index produced by JP Morgan jumped 164% in twenty days. The escalation of this indicator took place after the defeat of the ruling party within the OSP, which has generated new financial instability and a new exchange for Argentine badets.

On the equity side, the Merval had another day of sharp losses. The main actions had a 5.7% retracement, led by Transportadora Gas del Norte (-13%), Banco Supervielle (-10%) and Mirgor and Pampa (-9%). On Wall Street, by contrast, the roles of Argentine companies have reported up to 7.2% (Supervielle) and 7% (Pampa).