On another wheel with wide volatility, the index S&P Merval of leading shares of ByMA (Argentine Stock Exchanges and Markets), up 10% to 26,289 points, after two days without operations due to the bridge holiday for Memorial Day.
The Merval crystallizes with this increase the profits obtained abroad by the shares of companies that did operate abroad on Monday and Tuesday. Measured in dollars, the leading actions panel of the Buenos Aires Stock Exchange accumulates the fourth consecutive session on the rise, from the lowest price floor since September 2003, reached March 18.
Democrats and Republicans reached a agreement to pass a tax law to help companies and workers mitigate the effects of the crisis of the COVID-19, a move investors eagerly awaited to rebuild portfolios after the deepest series of declines since the 2008-2009 crisis.
Main Wall Street indicators climbed around 4%, after completing a 11.4% gain, his best day since 1933, due to expectations for the soon an agreement to promote a multimillion-dollar fiscal stimulus law that protects the economy against the pandemic.
However, there is still no clear signal that the coronavirus outbreak will be contained soon, which supports the VIX index”, They pointed out from Research for Traders. This indicator, which measures the volatility, uncertainty or “fear” of the market, continues in the elevated 61 points, after scoring all-time highs above 80 points last week.
Wall Street resumed the fgo bullish for the second session Consecutive, after Democrats and Republicans reached an agreement on the stimulus package in Washington.
The ADRs of Argentine companies, which on Tuesday made double-digit dollar gains, resume the hikes. YPF gains 9%, at USD 4.30, while Corporación América jumps 28% and Cresud, 23 percent.
The price of oil, which started lower, was also positioned in the profit zone. The raw Texas Intermediate (WTI) operates with a It rose 1.7% to $ 24.42 a barrel.
Although Sovereign bonds of reference in dollars are also traded with mixed numbers, the Country Risk of Argentina stabilizes in the area of 4,300 basis points, after exceeding 4,500 integers on Monday.
The fall in prices in the benchmark of US Treasury bonds, whose profitability for the 10-year security rises to 0.83%, thereby raising the comparison floor with similar emerging issues.