As the Bases Law advances through Congress and gains more attention, the Argentine stock market is experiencing a surge in growth while bonds are declining. Stocks have increased by up to 3% in New York, with the Merval rising 1.5% in Buenos Aires. This upward trend for Argentine stocks is linked to strong results from the banking sector, which saw an impressive 9% increase locally, mainly due to a resurgence of mortgage loans.
The Merval stock panel stands out for its standout performer, Banco Galicia, which experienced a 3% increase. On the New York stock market, however, the Dow Jones index saw a 0.7% decrease. ADRs like Galicia, Edenor, and BBVA also experienced increases of 3.3%, 2.5%, and 2.4%, respectively, while others such as Despegar, Globant, and Loma Negra saw losses of 4%, 1.9%, and 1.8%.
Public securities have averaged a slight decrease of just over 1%, with some exceptions like the AL 41 bond which fell by a significant margin of 3.7%. The JP Morgan indicator measuring debt costs has decreased by an impressive amount – both monthly (by 16%) and yearly (by