The financial market halted the upward trend of the last few days and experienced a red session, despite the good performance of Wall Street. Stocks and bonds showed negative results, indicating a possible loss of momentum after a significant increase period between August 2024 and January 2025.
The most notable stocks that rose were Ternium and Irsa, with gains of 1.7% and 0.7% respectively, while sovereign fixed-income assets in dollars suffered declines led by Supervielle (-3.8%), Central Puerto (-3.3%), BBVA (-3.2%), Macro (-3.1%), and Transportadora de Gas del Sur (-3%). In the United States, Globals experienced widespread declines, with those maturing in 2030 leading the way.
Country risk increased by 6 basis points, reaching 646 units. According to analyst Salvador Di Stefano, there is no clear outlook for the next 60 days, although the possibility of an agreement with the IMF and the lifting of the capital controls could materialize in April or May.
In the local market, the S&P Merval index dropped by 2.1% in pesos and 2% in dollars, closing at 2,625,049 points and $2208, respectively. Banco Macro was one of the leading papers with a fall of 4.2%, followed by Transportadora de Gas del Sur (-4.1%), Supervielle (-3.9%), Central Puerto (-3.7%), and YPF (-3.2%).
In the U.S. market, Argentine ADRs also suffered losses. The session was marked by profit-taking by investors in stocks and bonds.
