Stocks and bonds rise in New York during Independence Day

After the measures approved by the Senate, such as the Basic Law and the fiscal package, the Government of Javier Milei took advantage of the holiday to sign the May Pact, and in addition, it happened that, in the last hours, during the holiday, the shares of local companies experienced an increase of 3% in New York, while bonds advanced by 1.5%. Among ADRs, Telecom rose by 3.3%, BBVA by 3.1% and Mercado Libre by 2.2%. In contrast, the shares of Ternium and Globant traded lower, with declines of 2.3% and 1.2%, respectively. Dollar bonds rose as much as 1.5%, with global bonds leading the increase. The country risk fell to 1,491 basis points, remaining below 1,500 points for the fourth consecutive round. According to analysts, bonds have risen since last week due to a relative calm in global and emerging markets, in addition to the payment of coupons and amortization. Among the global bonds, the most prominent were the GD35 and GD41, with increases of 1.6% and 1.9%, respectively. Investors speculate that some exchange restrictions could be eased in the second half of the year. In this context, financial dollars and free dollars remain around $1,400, with an exchange rate gap that continues to be above 50%.

Original source in Spanish