“Global stocks plummet with the new variant of the coronavirus detected in southern Africa. According to reports, the new variant could be resistant to current vaccines and that causes high volatility in financial markets,” said an international analyst.
In the local context, the focus is on the country’s negotiations with the International Monetary Fund (IMF) to restructure a debt of about 45,000 million pesos.
Bonds and Country Risk
Yesterday, bonds denominated in dollars closed again with drops that, in some cases, reached 3.8%, such as Global 2029.
In this framework, the Country Risk -prepared by the JP Morgan bank-, maintained stability due to the inactivity with the assets in the US, for which it ended at 1,821 basis points compared to a minimum of 1,083 points in September 2020 after the close of the foreign debt swap.
The local financial market is also affected by the concern produced by the outbreaks of Covid-19 in Europe, a potential rise in rates by the Federal Reserve and the notorious strength of the dollar that weakens emerging currencies.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
