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Horizon with fewer reserves entails bonds and country risk rises again


insurance risk Argentina back on Tuesday, despite the downturn dollar in the city of Buenos Aires, about 3% on Monday.

It is true that The Central Bank has managed to get around the limitation have currency credit from the International Monetary Fund (IMF) and, according to the agency, He recovered the attribution to participate the foreign exchange market, but also for investment funds, the use of those dollars grinds future ability to pay Argentina, in the case of financial instability and the inevitable presidential election.

On the other hand, IMF & # 39 is preferred creditorsWith which Argentina always perform as possible, even during a default in the period from December 2001 to February 2005 such a way, private lenders are watching the developments with great care announced in the foreign exchange market, because if scarce dollars to pay debts, Priority will be agency multilateral.

JP Morgan LED sign for Argentina high 958 basis points, Improvement of 19% in total or 2 days.

Argentina's country risk reached intraday record of just over five points in 1011 The main last Thursday. Meanwhile, on Friday, 26 ended in 963 basis points. These are the maximum ranges from 1,018 units 5 February 2014.

for economist Gustavo BerStabilization of country risk in the current range with the & # 39 is " moderate reaction and use reserves to intervene spoil reserves available to meet obligations debt, if they are still closed external voluntary credit ".

"However, the majority of the firm remains focused on shorter names for the purchase of government agencies to take advantage of a discount they will look at parity and yield 18%"The annual dollar, said the owner of the studio Ber.

government securities Dollar Argentina with the law still, as the most depressed in terms of price, with high rates of return both cases Bonnard in 2020 (16.4%), Bonnar 2024 (18.6%) and Bonnar 2025 (17.9%).

Government bonds in the open market electronic (U) and move the end of the month and showed The average drop of 0.5%reported Reuters.

according to the report morgan Stanley BCRA on the & # 39 ads were positiveBecause it will lead to a decrease in exchange rate volatility and relative stability It helps to improve the inflation dynamics and prospects for the future, a weak positive impact on economic growth.

analysts Research for traders They explained that the sovereign bonds in dollars, working abroad, "went exfoliating at least last week, "which he explained that the index JP Morgan gave 1,000 basis points.

They added that "this happened in a context where The Central Bank may intervene the foreign exchange market in order to reduce market volatility. They also helped Anses shops short title duration, According to sources in the market. "

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