Reports

Date Report Type
05/11/2019

Argentina Fixed Income Market

Domestic bonds are currently pricing very pessimistic scenarios. However, 2019 debt payments would be covered by part of the IMF loan specifically earmarked for reserve strengthening, which also implies that the Treasury does not have the necessary liquidity to meet future payments.   

Fixed Income Weekly
05/11/2019

International Macroeconomic Perspectives

US: Optimism ahead as negotiations with China advance, the Fed cut rates for the third time and growth deceleration is likely over.

Macro Economy Weekly
05/11/2019

Argentina Macroeconomic Perspectives

Argentina: Tighter FX controls contributed to stop the drain on reserves and reduce the Central Bank (CB) reference rate, although it could not avoid the outflow of US dollar deposits

Macro Economy Weekly
05/11/2019

Argentina Equity Market

The focus returns to the Argentine economy, as the uncertainty regarding Alberto Fernandez’ economic team and which actions they will take remains high. Domestic securities continue reflecting significantly weaker economic conditions. Companies with a high percentage of dollar denominated revenues, lower operating exposure to domestic market and low debt levels would act as a hedge in the current scenario.

Equity Weekly Report
01/11/2019

Enel Generación Costanera 3Q19

Lowering to Market Performer due to regulatory uncertainty

Equity Report
01/11/2019

Ternium Argentina 3Q19

Ternium Argentina’s net result was similar to that of 9M 2018, although slightly below expectations, due to lower shipments, operating margin, and results of investments in associated companies, offset by better financial results.

Equity Report
30/10/2019

Argentina Fixed Income Market

Domestic bonds are currently pricing very pessimistic scenarios. However, 2019 debt payments would be covered by part of the IMF loan specifically earmarked for reserve strengthening, which also implies that the Treasury does not have the necessary liquidity to meet future payments.  

Fixed Income Weekly
30/10/2019

Argentina Equity Market

Following Sunday’s presidential election, the focus returns to the economy, as the uncertainty regarding Alberto Fernandez’ economic team and which actions they will take remains high. Domestic securities continue reflecting significantly weaker economic conditions. Companies with a high percentage of dollar denominated revenues, lower operating exposure to domestic market and low debt levels would act as a hedge in the current scenario.

Equity Weekly Report
29/10/2019

International Macroeconomic Perspectives

US: Another rate cut expected this week while investors´ move away from safe assets on improved sentiment MEXICO: Economic activity remains weak despite sector improvements

Macro Economy Weekly
28/10/2019

Argentina Macroeconomic Perspectives

Elections are finally over, Argentina was a new President elect & a new head of Opposition

Macro Economy Weekly
22/10/2019

International Macroeconomic Perspectives

US: Relative optimism as negotiations with China advance, distracts from weak economic figures.

Macro Economy Weekly
22/10/2019

Argentina Macroeconomic Perspectives

Argentina: Proximity to elections increases pressure on the peso and on international reserves, amid rising expectations FX controls could tighten

Macro Economy Weekly
22/10/2019

Argentina Equity Market

Following the tightening of FX controls, domestic securities continued falling reflecting significantly weaker economic conditions. Companies with a high percentage of dollar denominated revenues, lower operating exposure to domestic market and low debt levels would act as a hedge in the current scenario.

Equity Weekly Report
21/10/2019

Argentina Fixed Income Market

Domestic bonds are currently pricing very pessimistic scenarios. However, 2019 debt payments would be covered by part of the IMF loan specifically earmarked for reserve strengthening, which also implies that the Treasury does not have the necessary liquidity to meet future payments.  

Fixed Income Weekly
16/10/2019

International Macroeconomic Perspectives

- US: Relative optimism following negotiations with China amid IMF´s warning on slowing global growth.

Macro Economy Weekly