Warning to investors: Merval lost 0.8% under the pressure of global volatility

With high doses of caution, the Merval index of Argentine stock exchanges (BYMA) fell 0.8% on Thursday, in line with the downward trend in foreign markets, and before the president's visit . Macri on the premises as part of the commemorative act for the 164th anniversary of the Stock Exchange.

The BYMA advanced index fell to 26,829 units, with a very small amount exploited, which barely reached the $ 368.4 million

The most important setbacks of the day were were recorded by Ternium (-5.1%); Supervielle (-4%); and Aluar (-3.3%).

"We continue to argue that the Merval will continue to be under short-term pressure where volatility will continue to be observed in badets," said Agustín Trella, director of Balanz

. % to 40% in dollars, but the fundamentals have not changed much, they say in the market. "The relevant thing is that the change in fundamentals, for us, does not justify such a punishment", badyzed the personal portfolio manager, Matías Roig.

Roig pointed out that there are "cheap valuations, in addition, that Argentina will be part of the panel of emerging countries from next May, which ensures a significant flow of funds. "

• Bonds

In the fixed income segment, the principal dollar securities (quoted in pesos) are subject to generalized increases, due to the advance of the US currency in the wholesale market.

Bonar 2024 is up 0.3%; the 2020 Bonar, 0.6%, while the discount in Argentine law climbs by 0.8%. For its part, the country risk, measured by the bank JP Morgan, established at 578 basis points.

"In dollars, we see greater stability, and we see that several investors have started in the last 10 days to search for badets in pesos such as inflation-adjusted bonds or with an adjustment by Badlar which had been very cheap ", commented Roig.

For the traditional investor, he recommended, taking into account the fact that there are still dollars, remain in short-term dollar bonds, a Lete that expires l '; next year, or medium-term securities such as 2022, or 2024 with rates today ranging from 5% to levels of 7-7.5%.