With a weaker dollar in the world, markets continued to operate in cautious mode.Gold returned to its safe haven by closing above $5,000 for the first time since its collapse.
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According to the report by the F2 consulting firm directed by Andrés Reschini, “on an international level, the beginning of the week was not favorable for the US currency since after the victory of Sanae Takaichi, the prime minister of Japan, the yen strengthened. On the other hand, it emerged that Chinese regulators had advised large investors to reduce their exposure in US Treasury bonds and this was another of the main factors that pushed the dollar towards weakening.”
The world does not want to take risks and, for the first time, this attitude favors the region that sees greater demand for its sovereign bonds and stocks.
For example, the S
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The driver that encouraged the fall of the dollar was the regulation of the Fiscal Innocence Law, which has been in force since yesterday.The Minister of Economy, Luis Caputo, celebrated the news with a post on the social network
The other important news was the call for tomorrow’s tender of the Treasury’s debt in pesos.The menu includes LECAP at a fixed rate with maturities on April 17, July 31, November 30 and January 15.
There will also be bonds at the TAMAR variable rate, which is the one paid for fixed terms of between 30 and 35 days for more than $1,000 million.The sound instruments;one that expires on August 31 and another on February 26, 2027.
BONCER are not missing from the menu.These bonds, the most sought after after the controversy in Indec, will have four versions: the one that expires on June 30;that of December 15;that of June 30, 2027;and that of June 30, 2028.
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According to the Aldazabal report
The report adds that “as of last Friday, banks had only $0.3 trillion in remunerated liabilities from the BCRA, a sign that the system’s liquidity remains tight. However, the overnight rate continued to weaken in recent days, which could be associated with the injection of pesos from the BCRA for foreign currency purchases. The balance of the Treasury account in pesos at the BCRA was only $4.3 trillion as of last Wednesday, which we imagine will still aim for a high rollover.taking advantage of the recent compression of the short section of the curve.”
Interest rates seem to be the main attraction in the face of the fall of the dollar. According to Sebastián Di Nucci, from Fondos CRECER of Banco Ciudad, “attentive to the milestones, such as the agreement with the United States or the possible approval of the labor reform, and also with an eye on external volatility, it is estimated that a market can continue to find maximums, and emerging currencies appreciate. Portfolios seek to maintain value, maximizing performance, but with the lowest future volatility, which is the case of the funds.“savings and plus income, which yield above the fixed terms.”
In pre-market operations in the United States, there was caution because we are awaiting today’s retail sales report and the delayed jobs report that will be released tomorrow and is key for investors.The week closes with the inflation data for January.
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