The director of Bell Investments, Emilse Cordobain contact with Canal E, referred to the opening of the stock exchange, the expectations of the FED and the impact of the Bonar 29 tender, in a context also conditioned by the new inflation data.
Emilse Córdoba focused on the numbers that already anticipate the dynamics of the market: “Today we already have the CABA inflation data, which in general It helps us measure a little bit about how this data can be obtained.In this context, he assured that the market is expecting a larger placement than what is being rumored: “I would tell you that a larger placement is expected than the billion that is being discussed out there.” We are at 20-30% waiting above that number“.
Expectations for what the Fed might announce
At the international level, he noted that the focus is on the United States: “The consensus suggests that the Fed rate cut coming in the next few hours“He also emphasized that a decision of this kind”It’s always positive for emerging markets” because “the returns of the main markets and some of the fund placements are no longer attractive.” They are starting to relocate to emerging markets“.
Regarding the difference between national and foreign law on issuance, Córdoba qualified this point given Argentina’s urgency to access financing: “The law seems to me that in this case it may be an issue that we do not give much attention to.” because I think the main problem is getting back to the markets“.
Market perception of the latest economic news
At the same time, he emphasized the good response to the economic stimulus package announced by the government: “This news was very well received by the market, this novelty of reformsthe laws that accompany labor reform, then the tax cut, which can be seen very well in the market“.
Regarding the gap between global bonds and Bonars, the respondent explained: “That gap closes“, and explained that, “also The gap is closing between the CCL and the MET,” highlighting the convergence of financial dollars.
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