Conditioned by high rates, the Merval suffered its third consecutive loss: it dropped by 0.7% (in the week it lost 4%)

Contrary to global positions, the Merval index of Argentine stock exchanges and markets suffered this Friday its third consecutive loss to yield 0.7% to 26,514.16 units, conditioned by high interest rates after the monetary contraction led by the Central Bank.

The largest decreases were incurred Cablevisión (-4.9%); Supervielle (-4.3%); and Metrogas (-3.9%). The volume of business was very limited and amounted to just $ 493 million.

"Once again, the local market is operating against the reference markets, which clearly shows that the price of Argentine badets is still influenced only by local factors," explains an operator

. Recent external climate, domestic badets are failing to revive investor appetite – after rebounding last week's lows – as they prefer to turn to caution while waiting for other "supermartes" in the markets. Lebacs, where the BCRA will seek to amortize the release of funds – even through a new round of reserve increases – and ~ 50% rates posted by the secondary market, recalled Gustavo Ber, senior economist at Estudio Ber consultancy.

• Bonds

In the fixed income segment, on the other hand, the principal dollar bonds (quoted in pesos) were closed by promotions. The Bonar 2024 added 0.3%, the 2020 Bonar, 0.4% and the discount in Argentine right, 0.9%

Finally, the r iesgo country measured by JP Morgan, fell by two units to 573 basis points.