Reports

Date Report Type
10/07/2019

Argentina Macroeconomic Perspectives

Argentina: May activity figures signal the start of the rebound, although the recovery is still heterogeneous

Macro Economy Weekly
02/07/2019

International Macroeconomic Perspectives

US: Consumer confidence further deteriorated in June, however consumer spending remains solid.

Macro Economy Weekly
02/07/2019

Argentina Macroeconomic Perspectives

Argentina: Despite an intense political agenda, the peso strengthened during June, boosting local sentiment and enabling the Central Bank to further cut rates

Macro Economy Weekly
02/07/2019

Argentina Equity Market

Companies with low debt in dollars and hard currency denominated revenues would benefit most in this context, acting as a natural hedge. In addition, companies with high dividend yields would also experience lower volatility. At current prices, Central Puerto (CEPU) continues to stand out, as most of its revenue is dollarized and has low dollar indebtedness.

Equity Weekly Report
01/07/2019

Argentina Fixed Income Market

Regarding dollar denominated bonds, our suggestion is to maintain a position in those liquid and short-term, such as dollar denominated Bills, with a 4% yield and significant lower volatility than longer bonds. For more aggressive portfolios, we highlight Bonar 2024 (AY24), with a 14% yield, and Bonar 2020 (AO20) with a 15% yield.

Fixed Income Weekly
25/06/2019

International Macroeconomic Perspectives

- US: The Fed did not surprise and left rates unchanged, but signaled chances of a cut could increase in the short term if the economic outlook deteriorates further.

Macro Economy Weekly
25/06/2019

Argentina Macroeconomic Perspectives

Argentina: FX stability, decelerating inflation and clearer political scenario, boosted government confidence

Macro Economy Weekly
25/06/2019

Argentina Equity Market

Companies with low debt in dollars and hard currency denominated revenues would benefit most in this context, acting as a natural hedge.

Equity Weekly Report
24/06/2019

Argentina Fixed Income Market

Regarding dollar denominated bonds, our suggestion is to maintain a position in those liquid and short-term, such as dollar denominated Bills, with a 4% yield and significant lower volatility than longer bonds. For more aggressive portfolios, we highlight Bonar 2024 (AY24), with a 14% yield, and Bonar 2020 (AO20) with a 15% yield.

Fixed Income Weekly
19/06/2019

International Macroeconomic Perspectives

-US: Mixed economic figures challenge the Fed´s capacity to read the underlying trend and act accordingly.

Macro Economy Weekly
19/06/2019

Argentina Macroeconomic Perspectives

Argentina: The Central Bank continued cutting rates in the past week, helped by FX stability and a relatively favorable international setting for the region.

Macro Economy Weekly
19/06/2019

Argentina Fixed Income Market

Regarding dollar denominated bonds, our suggestion is to maintain a position in those liquid and short-term, such as dollar denominated Bills, with a 4% yield and significant lower volatility than longer bonds. For more aggressive portfolios, we highlight Bonar 2024 (AY24), with a 14.6% yield, and Bonar 2020 (AO20) with a 16% yield.

Fixed Income Weekly
19/06/2019

Argentina Equity Market

Companies with low debt in dollars and hard currency denominated revenues would benefit most in this context, acting as a natural hedge. In addition, companies with high dividend yields would also experience lower volatility.

Equity Weekly Report
13/06/2019

Argentina Outlook June 19

While the overall economy remains fragile, annual inflation above 50% and political uncertainty high, exchange rate stability and high interest rates are key to keep local confidence in the peso. Hence, the Central Bank (CB) continues committed to bring inflation down, through tight monetary policy.

Macro Economy Quarterly
12/06/2019

International Macroeconomic Perspectives

- US: May´s employment report and unresolved trade tensions, increased pressure on the Federal Reserve to cut rates.

Macro Economy Weekly