The corporate balance sheet season always represents a kind of “bad field” for investors, since these results can trigger extreme movements in prices, both up and down.
U.S. stocks tipped for broad losses on Thursday in a technology-driven sell-off, as investors decided to sell off shares of large-cap companies, concerned about spending on artificial intelligence projects.
This%20behavior%20also%C3%A9n%20impact%C3%B3%20on%20the%20emerging%20assets.%20The%20%C3%ADindex%20Bovespade%20the%20Stock Market%20of%20Valores%20of%20San%20Pablo%20losti%C3%B3%200,9%%20(to%20cut%20to%2014%%20the shocking%20gain%20of%20January)%20and%20the%20same%20occurred%C3%B3%20with%20the%20stocks%20and%20the%20bonds%20of Argentina.
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Bill Gates’ software company Microsoft reported higher-than-anticipated capital spending and a slowdown in quarterly cloud sales growth, information that scared off investors.
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The S
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“Investor perception has improved since October, when the Government achieved an unexpected victory in the midterm elections, which gives it a considerable number of legislators to seek the approval of key laws that help deregulate Latin America’s third largest economy,” Reuters reported.
“With the fall in risk, the real interest rate is lowered and costs are reduced in general, hence the importance of the issue,” said GermánLedinich, an analyst at Bull Market Brokers.
Analysts maintain expectations about how the administration of libertarian President Javier Milei will act in the face of this drop in country risk and the possibility of the Government refinancing debt in the external market, a segment prohibited for Argentina since 2018.
“The compression of the sovereign spread occurred in parallel with a strong demand for dollar bonds, in a context where investors are beginning to validate with greater conviction the accumulation of reserves and greater exchange rate stability,” commented Isabel Botta, an analyst at the Balanz brokerage.
Another factor that is taken as an incentive in the market is the purchase of foreign currency carried out by the Central Bank in favor of its reserves.This Thursday, the entity added USD 52 million with its exchange intervention, to expand the balance in favor to USD 1,134 million so far in January.In addition, gross international reserves grew by USD 59 million, to USD 46.24 billion, the highest level since August 2021.
In a round with operations for USD 373.5 million in the cash segment, the wholesale dollar ended without variations at $1,444.50, to interrupt a series of four rising sessions.The official exchange rate was agreed upon at $1,446.50 when business was averaged.
Throughout January, the wholesale dollar remains down 10.5 pesos or 0.7 percent.“With only one wheel left to finish this week, the wholesale exchange rate accumulates an increase of $11.50, far from the increase of 3 pesos registered in the previous week,” said Gustavo Quintana, PRCorredores de Cambio agent.
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