The country risk premium is around 546 basis points, its highest level since mid-January. The Treasury announced it will place a new dollar-denominated Bonar in 2027 (AO27) simultaneously with peso debt tenders. The market believes this aims to attract dollars from private deposits, which have been rising in recent months and are at record highs, while also complementing the accumulation of reserves by the Central Bank (BCRA), which has exceeded $2.5 billion so far this year. Bonds are inclined to decline as they await to see the demand the AO27 will capture as a strategy to refinance maturities. Internationally, the main US indices are rebounding strongly after the bloodbath of the previous session, where they plunged 1.7% after US President Donald Trump announced he would begin applying a new global 10% tariff. Meanwhile, Argentine ADRs are mostly up, rising as much as 5.4% led by BBVA Argentina, followed by Banco Macro (+3.6%) and Telecom Argentina (+2.8%). In the local market, the S&P Merval climbs 1.6% in pesos to 2,806,625.67 points, while in dollars it rises 1.2% to 1,940.7 points. The cash-with-delivery dollar (CCL) rises 0.3% to $1,446.19.
Among the stocks, BBVA Argentina leads the gains (+5.6%), followed by Banco Macro (+3.6%) and Telecom Argentina (+2.7%). Buenos Aires, Feb 24 (NA) – ADRs rebounded up to 6.2%, but sovereign dollar bonds posted widespread declines on Wall Street this Tuesday, and the country risk already exceeds 540 basis points. Meanwhile, the S&P Merval advances in the local market, according to the Argentine News Agency. Sovereign bonds record widespread declines of up to 1.2% in the local market, led by the Global 2041 and the Bonar 2035 (-0.9%). In solo, the Global 2046 climbs 0.7%. In the General Panel, IEB Construccions flies 10.4%. At the other extreme, Aluar plummets 5.9% and Ternium loses 2.1%.
