Financial markets have experienced drops of 4% in leading stocks, ADRs in New York, and debt securities. Country risk has approached 750 basis points, awaiting news from the International Monetary Fund (IMF). Amid this uncertainty, markets continue without a clear direction, and the trend of profit-taking deepens.
The leading index of BYMA started the day up, but quickly changed direction and decreased by 3.9% to 2,267,271.760 basis points. Among the leading companies with the largest drops are BYMA (-5.3%), Grupo Supervielle (-5.3%), and Edenor (-5.2%). In the case of ADRs, performance is similar: Grupo Supervielle (-5.6%), Edenor (-5.3%), and Banco Macro (-5%) record significant declines.
Investors are awaiting news about the agreement between Argentina and the IMF, which have not yet materialized. In the local market, the bonds that are decreasing the most are Bonar 2029 (-0.9%), Bonar 2030 (-0.7%), and Global 2041 (-0.7%). Meanwhile, country risk increases by 1.6%, standing at 742 basis points according to the index measured by JP Morgan.
Amid this situation, uncertainty about the direction of the markets and the wait for news regarding the agreement with the IMF continue to be the main factors of instability in the current financial scenario.
