Two days of submission of the proposal, posted strong gains in bonds, the coupons tied to GDP rose to nearly 8%, due to low oil prices, the Merval fell 0.1%
Encouraged by expectations about the upcoming release of debt in default, the local market showed strong rises in the prices of the bonds. The euphoria among investors, just two days of launch conditions of the offer of government bonds led to a profit of almost 8 percent.
Meanwhile, the fall in international oil prices, are negotiated on $ 84 a barrel, down from U.S. $ 0.6 on Friday, the Merval marred the day, which gave a slight 0.07 percent. The main index of the Buenos Aires Stock Exchange ended the day at 2486.01 points, with just 44 million dollars of trading volume
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Amid criticism from economists for what they consider a more than generous offer of the Government ("There's a party in the financial sector, because the supply is extremely favorable to outsiders and not the country," said Roberto Lavagna), which grew the most were the coupons linked to the progress of the economy.
The coupon GDP climbed 7.55% in its alternative in Argentina under legislation pesos, dollar 4.68% laws of New York and 6.67% in dollars local laws. The rise of this coupon has been very rapid in recent weeks. The variable weights has a jump of 15.64% in the first six rounds of April, a performance 34.34% is added to the accumulated through March.
The Discount in pesos, the principal bond debt exchange, rose 0.90% today, a difference that is stretched to 2.11% in the month and added to the cumulative 22.82% in March. Meanwhile, Argentina's country risk, which measures the rate differential between domestic bonds and similar U.S. Treasury, gave 7 points to 619 units.
Increases were registered in an international environment favorable for the adoption of an emergency aid plan for Greece, which for now calm the minds of investors and revive the interest in risk markets.
Merval, down. Buenos Aires's main index, the Merval fell on a par with the drop in international oil prices, the weak dollar and high inventories in the United States.
Among the 15 leading shares, which lost more than were those of Petrobras (-2.88 percent), Petrobras Energia (-1.79) and Aluar (-1.27). By contrast, closed with a positive sign papers Grupo Financiero Galicia (+2,07 percent), Banco Hipotecario (+1,84) and Banco Patagonia (+1,69).
Moreover, in the currency market, the price of U.S. dollar remained stable today and closed at 3.86 pesos to 3.89 pesos to purchase and sale.
A critical view. Lavagna said today that "there's a party in the financial sector, because the offer [for payment of debt] extremely friendly to outsiders and not the country."
Speaking to DyN, after a lunch with former President Eduardo Duhalde in a restaurant in Puerto Madero, the former finance minister also said that the Government not only has a program to combat inflation, but not even recognized as a problem , "which is very serious," he said.
Lavagna also criticized the offer of payment of debt taken by the national government is the result of a proposal coming from abroad because "strategic issues must not be defined on tips that come from abroad", and "always ends up covering the interests of foreign and not the country. "
