Analyst Salvador Di Stefano, known as the 'Blue Guru', has shared investment recommendations considering the stability of the dollar in recent weeks and the recent rally of stocks and bonds in Argentina due to the reduction of withholdings.
According to Di Stefano, the market has begun a process of price adjustment, both in bonds and stocks, attributing this in part to increased uncertainty in the international arena, especially following Donald Trump's assumption of office in the United States. In light of the confusion generated by possible higher tariffs on Mexico and Canada and the investment plans in Artificial Intelligence, the specialist highlights the difficulty in predicting how these events will affect the markets.
In this context, Di Stefano suggests two investments to consider. With the upcoming release of the January inflation index by INDEC, expecting a CPI below 2.0% monthly, he raises the possibility that the Central Bank may reduce the monetary policy rate from 32.0% annually to around 27% annually, which could improve investments in pesos.
Additionally, he points to a potential business opportunity in instruments like Lecap and Boncap if the dollar remains stable and rates continue to decline in February. Regarding the need to eliminate the currency controls in Argentina, the 'Blue Guru' asserts that the rate cut will not be enough, recommending resolving the issues of reserves and monetary base as essential steps to reduce country risk.
Di Stefano emphasizes that until the controls are lifted, it will be difficult for country risk to drop below 550 points. Furthermore, he highlights the possibility of an improvement in investments in pesos starting in February, although he warns about fluctuations in the bond market and the need to closely monitor the evolution of the international economy.
