Argentina’s country risk experienced a decline for the fourth consecutive day, moving further away from the 500 basis points barrier, while Argentine bonds resumed gains on Friday.
This financial indicator, developed by JP Morgan, recorded a decrease of six units, standing at 490 basis points, which represents its lowest level since August 17. Sovereign bonds in dollars, both Bonares and Globals, advanced by an average of 0.4%, although the S&P Merval index of the Buenos Aires Stock Exchange failed to maintain initial gains and ended with a drop of 0.3%, settling at 3,049,122 points.
Damián Vlassich, Team Leader of Investment Strategies at IOL, noted that “the domestic market managed to close the week under a framework of relative exchange rate stability and decoupling from international volatility.” In the realm of ADRs and Argentine stocks on Wall Street, there were mixed results, highlighting the declines of Globant (-3%) and Banco Francés (-1.8%), alongside the increases of Bioceres (+3.5%) and Cresud (+1.9%).
On another note, oil prices showed a slight increase, with Brent North Sea crude climbing 0.4% to USD 95.94 for November delivery contracts. YPF recorded a gain of 0.4%, reaching USD 52.62, while Vista Energy fell by 1.2%.
With Labor Day in the U.S. scheduled for Monday, September 7, operations in Buenos Aires were moved forward, anticipating a liquidity cut at the beginning of the following week. Wall Street indices showed declines between 0.3% and 0.5% following the publication of a U.S. employment report that recorded the creation of 162,000 new jobs in August, significantly exceeding the expectation of 55,000.
The unemployment rate in the U.S. remained at 4.1%, with an increase in the participation rate to 61.6%. Analysts from Rava Bursátil commented that “the non-farm payroll data in the United States exceeded expectations and adjusted monetary policy outlooks.” Balanz highlighted that the market now projects a 25 basis point increase for the Fed meeting on September 16 with a 63% probability.
In the foreign exchange market, the wholesale dollar closed stable at $1,508, with significant activity of USD 736.3 million in the spot segment. Nicolás Merino from ABC Mercado de Cambios emphasized that “the market showed a balance between supply and demand,” although greater selling pressure was observed in the second half of the day.
The BCRA set a ceiling of $1,885.14 for its exchange rate bands regime, and the official exchange rate remained 377.14 pesos away from that limit. During 2026, the retail dollar shows an increase of 50 pesos, or 3.4%. Moreover, the BCRA reported that the average retail dollar in financial institutions was $1,528.60 for sale.
The Puente Research team’s report stated that “international reserves have been able to recover above USD 50 billion,” although tax revenue remained stable, reflecting weakness in taxes related to formal activity and employment. Analysts estimate that exchange rate dynamics will continue to show a process of dollarization of portfolios, despite the BCRA continuing to accumulate reserves, indicating that disinflation is one of its priorities.
Source: www.infobae.com
