Today, the leading stocks on the Buenos Aires Stock Exchange and the ADRs increased in value thanks to more favorable international outlooks following certain comments from the President of the United States, Donald Trump, regarding the tariffs he plans to implement in Canada, Mexico, and China, which were moderated.
Despite this rebound, dollar bonds experienced their fourth consecutive decline, marking their worst streak since November. Meanwhile, the country risk rose to 650 basis points. Trump agreed with his counterparts from Mexico and Canada, Sheinbaum and Trudeau respectively, to postpone the tariff increase for one month while both countries strengthen their borders through military presence to combat drug trafficking and illegal migration.
Locally, President Javier Milei offered an interview where he detailed the future elimination of the currency controls, setting January 1, 2026, as the deadline. The S&P Merval index rose by 1.6% to 2,523,647.04 basis points, still far from its level at the end of 2024. In the Leader Panel, stocks grew up to 4.9%, led by Edenor, followed by Cresud and Loma Negra.
As for the ADRs, Edenor topped the gains with 3.8%, followed by Cresud, YPF, and Pampa Energía. In the fixed income market, dollar bonds experienced widespread declines, with the most affected being the Global 2029, Global 2041, Bonar 2029, and Bonar 2038. Additionally, the country risk increased by 8 units (+1.3%), reaching 631 basis points, according to JP Morgan's measurement.
