0.3 C
Saturday, January 29, 2022

Stocks and ADRs fall sharply due to global fear of the new variant of Covid-19

Must read

“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


More articles


Please enter your comment!
Please enter your name here

Latest article

%d bloggers like this: