Thursday's session maintained the good alignment of markets with Argentina, recording an increase in stocks both locally and on the New York Stock Exchange. Argentine stocks experienced an increase of up to 4.7%, while dollar bonds showed almost no variation, and the country risk fell below 800 basis points.
On Wall Street, local stocks rose by up to 4.7%, led by Transportadora de Gas, followed by IRSA (+4%), Telecom (+3.8%), and YPF (+2.8%). In contrast, the largest declines were registered by Mercado Libre (-3.5%), Bioceres (-3.4%), and Banco Macro (-1.6%). Meanwhile, in the Buenos Aires stock exchange, the leading index S&P Merval increased by 1.1%, reaching 2,063,119.93 points, with a 5% accumulation over the week. Stocks on the panel rose by up to 4.3%, with Telecom leading the rebound.
President Javier Milei has implemented a policy that has allowed the Argentine financial market to experience an unusual "spring," evidenced by records in bond parities and peaks on the Buenos Aires Stock Exchange. Additionally, the Central Bank (BCRA) managed to increase international reserves above 30 billion dollars. As for inflation, in September it was at 2.7%, according to the National Institute of Statistics and Censuses, while the year-on-year variation has fallen below 200% (193%).
Regarding future developments, Milei mentioned: "If we repeat numbers along this line for two more months, we will be lowering the crawling peg to 1%, and when we repeat 3 months of 1%, we will be releasing the currency market." Concerning dollar bonds, they showed an increase of up to 0.5% in New York, led by the Global 2041, followed by the Bonar 2041 (+0.4%) and the Global 2046 (+0.3%). On the other hand, the largest declines were experienced by the Bonar 2038 (-0.4%) and the Bonar 2029 (-0.3%).
Country risk decreased by 1.3%, equivalent to 10 units, and broke through the 800 basis points barrier, reaching 790 basis points according to J.P. Morgan's measurement.
