Reports
Date | Report | Type |
---|---|---|
28/10/2020 | Argentina Fixed Income MarketArgentine bonds continued to trade in very negative territory, with IRRs around 16% in the short end of the curve and showing an inverted slope. The context of a loss in confidence, added to BCRA' bond sales in the secondary market with the aim of narrowing the exchange gap continued to negatively impact the dollar curve. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies. |
Fixed Income Weekly |
28/10/2020 | Argentina Equity MarketDomestic stocks continued their positive trend, although at a much slower pace. This situation could be explained by the choice of investors in the search for a haven of value in the face of the continued domestic currency devaluation. In any case, the low level of valuation reflects political uncertainty and the strong deterioration in current economic activity. |
Equity Weekly Report |
21/10/2020 | Argentina Fixed Income MarketArgentine bonds continued to trade in very negative territory, with negative returns in practically all trading rounds. This week’s series of new measures, -opposite those of the previous week- had little effect on the market. At the same time, BCRA reserves evolution is observed very carefully, deepening in what we believe is a very negative shock of confidence in the government by investors, deepened by the negative context of the pandemic. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies. |
Fixed Income Weekly |
21/10/2020 | Argentina Equity MarketAnother postive week for stocks in an unfriendly scenario |
Equity Weekly Report |
16/10/2020 | Argentina Fixed Income MarketArgentine bonds continued to operate in a very negative territory, with losses on practically all trading rounds. The measures of the last week hardened the exchange rate with a battery of regulations that generated a lot of nervousness in the market. At the same time, the evolution of BCRA reserves is observed very carefully, deepening in what we believe is a very negative shock of confidence in the government by investors, deepened by the negative context of the pandemic. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies. |
Fixed Income Weekly |
16/10/2020 | Argentina Equity MarketAlthough domestic stocks had a positive week, largely as a reflection of central and regional markets, the level of undervaluation reflects political uncertainty and the sharp deterioration in current economic activity. |
Equity Weekly Report |
07/10/2020 | Argentina Fixed Income MarketArgentine bonds continued to trade in very negative territory, with losses on practically all trading rounds. Last week’s measures focused on the exchange rate with a battery of regulations that led to continued market nervousness. At the same time, the evolution of BCRA reserves is observed very carefully, deepening in what we believe is a very negative shock of confidence in the government by investors, deepened by the negative context of the pandemic. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies. |
Fixed Income Weekly |
07/10/2020 | Argentina Equity MarketAn uncertain economic plan increases Market volatility |
Equity Weekly Report |
30/09/2020 | Argentina Fixed Income MarketArgentine bonds continued to trade in very negative territory, with losses on practically all trading days last week. Recent measures hardened the exchange rate market with a series of regulations that generated a lot of nervousness in the market. At the same time, the evolution of BCRA reserves is observed very carefully, furthermore in a negative context fostered by the pandemic. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies. |
Fixed Income Weekly |
30/09/2020 | Argentina Equity MarketDomestic stocks still not included in the wish list |
Equity Weekly Report |
24/09/2020 | Aluar 4Q19/20Aluar disclosed lower than expected results led by negative financial result, lower aluminum price and demand, accentuated by the global pandemic. |
Equity Report |
23/09/2020 | Argentina Fixed Income MarketArgentine bonds continued to trade in very negative territory, with losses on practically all trading days last week. Recent measures hardened the exchange rate market with a series of regulations that generated a lot of nervousness in the market. At the same time, the evolution of BCRA reserves is observed very carefully, furthermore in a negative context fostered by the pandemic. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies. |
Fixed Income Weekly |
22/09/2020 | Argentina Equity MarketThe long-term outlook is still not clear due to the slump in economic activity in recent months and uncertain recovery. Companies with a high percentage of dollar denominated revenues, lower operating exposure to the domestic market and low debt levels would act as a hedge in the current scenario, while in case a better than expected recovery takes place, these could outperform the Merval index. |
Equity Weekly Report |
16/09/2020 | Argentina Fixed Income MarketLacking strong economic figures, the government is expected to act in order to improve prospects and confidence |
Fixed Income Weekly |
15/09/2020 | Argentina Equity MarketSan Miguel: Production recovery, logistics management and higher demand foretell positive results |
Equity Weekly Report |