Titoli di Stato area non Euro ARGENTINA obbligazioni e tango bond

[Cat XL]

OK.


a) come quando DB e Nomura , per il Venezuela, facevano dichiarazioni dove mettevano, per il recovery rate , 50 poi 40 poi 30 ..., la domanda è sempre quella : "sulla base di cosa mettono giù quei numerelli ? "

b) non mi ero accorto di aver glissato la domanda e me ne scuso. Ora c'è Macrì. Se vuoi dire dove sarebbero i bond se avesse vinto Macrì le primarie, ti ribalto la domanda : "se avesse vinto Macrì Citi avrebbe fatto uno stima low-30 ?"
E' , comunque, una discussione che non porta da nessuna parte...

Ciao.

Se avesse vinto Macri i bond sarebbero agli stessi livelli del giorno prima delle elezioni e nessuno parlerebbe di default. Con Fernandez ora si parla apertamente di default come fosse cosa certa. Percui deduco che il voto sia stato una sorta di referendum default si default no.

 

[noname]

LA NACION on Twitter

 

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Argentina: nuovo ministro Finanze illustra programma anticrisi a rappresentanti opposizione



Buenos Aires, 21 ago 18:40 - (Agenzia Nova) - Il nuovo ministro delle Finanze argentino, Hernan Lacunza, si è riunito oggi con i rappresentanti dello staff economico del principale candidato dell'opposizione alle prossime presidenziali, Alberto Fernandez. Al centro dei colloqui il piano di stabilizzazione macroeconomica che verrà adottato da qui a dicembre, quando scadrà il mandato dell'attuale governo. Sebbene non siano trapelati ancora i contenuti della riunione e sebbene non siano stati effettuati nuovi annunci, i mercati hanno ad ogni modo reagito positivamente al clima di cooperazione politica inaugurato dal nuovo ministro, e oggi è stato registrato un leggero rialzo dell'indice della Borsa di Buenos Aires. Anche la divisa locale, il peso, si sta mostrando stabile nei confronti del dollaro dopo aver sofferto una svalutazione di quasi il 30 per cento la settimana scorsa. Hanno partecipato alla riunione da parte di Fernandez l'ex sottosegretario alle Finanze, Guillermo Nielsen, e gli economisti Giulia Todesca ed Emanuel Alvarez Agis, quest'ultimo dato come potenziale ministro dell'Economia in un eventuale futuro gabinetto del candidato peronista. (segue) (Abu)
© Agenzia Nova - Riproduzione riservata

 

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Argentina: misure anticrisi, proposta bocciata da 19 province su 23

Buenos Aires , 21 ago 22:12 - (Agenzia Nova) - Sono 19 su un totale di 23 i governatori provinciali che hanno confermato la loro opposizione al pacchetto di misure anticrisi annunciato la settimana scorsa dal presidente argentino, Mauricio Macri. Lo riferiscono i media del paese latinoamericano, aggiungendo che i governatori provinciali hanno annunciato un possibile ricorso alla Corte suprema sulla vicenda dal momento che, a loro dire, una buona parte dei costi relativi all’attuazione di queste misure (circa il 57 per cento) andrebbe a ricadere sulle province. Nello specifico, sono state avanzate forti critiche nei confronti dell’incremento del minimo non imponibile e dell’abolizione dell’Iva sui prodotti del paniere di base. "Ci sembra positivo che il governo nazionale decida applicare correttivi, ma quello che non può fare è disporre incostituzionalmente delle risorse che sono delle province", recita un documento congiunto firmato dai 19 governatori. (segue) (Abu)
© Agenzia Nova - Riproduzione riservata

 

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Argentina's 'Achilles heel' of dollar debt could lead to downgrade: Fitch's McCormack

BUENOS AIRES (Reuters) - Argentina could be downgraded again by Fitch Ratings if further weakness in the peso boosts the risk of default, the agency’s head of sovereign ratings said in an interview on Tuesday.

Argentina has issued billions of dollars worth of bonds denominated in U.S. currency. Prospects of repaying the debt have dimmed since the peso’s 18% crash last week after business-friendly President Mauricio Macri got trounced in the Aug. 11 primary election by center-left rival Alberto Fernandez, now the favorite to win the October presidential election.

“The Argentine government tends to borrow in foreign currency either domestically or abroad, so that reliance on foreign currency borrowing is the Achilles heel of the sovereign credit here,” James McCormack, Fitch’s head of sovereign ratings, told Reuters in Buenos Aires.

“It introduces a vulnerability to exchange rate fluctuations that many other countries simply don’t face,” McCormack added.

Fitch downgraded Argentina’s sovereign debt on Friday from ‘B’ to ‘CCC,’ while S&P lowered its rating to ‘B-‘ from ‘B.’ The peso tumbled nearly 20% last week, forcing the central bank to tap into its reserves with dollar auctions.

Markets were shaken by Fernandez’s wider-than-expected primary election win, which cast doubt on the future of Macri’s free-market economic policies and Argentina’s IMF-backed austerity plan.

As Argentina’s main parties had already selected their presidential candidates, the primary election was effectively an opinion poll for the Oct. 27 presidential election.

McCormack said at a presentation in Buenos Aires that the ‘CCC’ rating means a debt restructuring or default is seen as “possible” but “not probable.”

In a subsequent interview, McCormack said policy changes that could increase the likelihood of a default would be a factor in whether Argentina is downgraded further.

“What kind of policies might lead to that? Policies that would result in a further depreciation of the exchange rate and a lack of confidence in the macro framework,” McCormack said.

Economic relief measures announced by Macri last week, including personal income and food tax cuts, would have a slightly negative fiscal effect but not enough to further hurt the country’s credit rating, McCormack said.

Fitch executives said they were scheduled to meet one or two economists from the Fernandez camp while McCormack was in Buenos Aires. They were also scheduled to meet Central Bank chief Guido Sandleris.

They may also meet Finance Secretary Santiago Bausili and Sebastian Katz, who just joined the team of Macri’s new Treasury Minister Hernan Lacunza.

McCormack said they generally review credits twice a year, but in the case of Argentina, it will be an ongoing assessment.


“It’s a credit we have to pay attention to... things could change quickly,” McCormack said.

Fernandez has said he would seek to “re-work” Argentina’s $57-billion standby agreement with the IMF, whose next review of Argentina’s economy on Sept. 15 should signal whether the lender of last resort still thinks the country can pay its debt obligations. Government bonds denominated in dollars are harder to pay when the peso weakens.



...poichè appena ho tempo passo in rassegna tutto quanto trovo e me lo leggo,noto e non capisco il motivo ,che tutti i giorni gli articoli anche sè scritti da firme diverse si ripetono.Quanto scritto su questo ,ieri era scritto un altra volta quì sempre su Reuters e,di nuovo ieri su Bloomberg...boh...
Vediamo domani dove e chi...

 

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Argentina will act to prevent 'irrational' run on peso, says new economy chief

BUENOS AIRES (Reuters) - Argentina will not allow a chaotic fall in the peso and will use its dollar reserves to bolster the currency against the political uncertainty that erupted after the Aug. 11 primary election, Treasury Minister Hernan Lacunza said on Wednesday.

The central bank auctioned a total $94 million in reserves during the day, traders said. The bank has spent a total $709 million to bolster the peso since President Mauricio Macri was thrashed in the primary nominating contest by center-left Peronist challenger Alberto Fernandez, who is now expected to win the Oct. 27 presidential election.

The peso closed 0.53% weaker at 55.03 to the U.S. dollar while local stock and bond prices rose slightly, suggesting that recent market jitters had begun to calm.

“We will not allow an irrational run on the currency. That’s why we have international reserves,” Lacunza told local radio station Mitre in an early morning interview, less than 24 hours after being sworn in as treasury chief.

Argentine asset prices went into a tailspin last week after the primary result raised fears of a return to interventionist economic policies. After the markets closed on Wednesday, debt ratings agency Fitch said the peso’s recent depreciation “suggests a real risk of default” and “raises the potential for a sharper deterioration in economic growth.”

Later in the day, the central bank sold $26 million, then $27 million and then $41 million in three dollar auctions.


Lacunza was scheduled to meet with Fernandez’s economic advisers later on Wednesday.

“Since the market pays as much attention to the future as it does to the present, in addition to what the government in charge can do, it also matters what the other candidates and their economic teams say,” Lacunza said, when asked about the meeting with the Fernandez team.

In a bid to shore up his flagging support, Macri last week enacted a series of emergency measures, including cuts in food and personal income taxes that are aimed at helping families stung by Argentina’s recession and 55% inflation rate.

Nicolas Dujovne, the former treasury minister, quit on Saturday, saying he believed the country needed “significant renewal” of its economic team.

Lacunza said Argentina would hit its target of erasing the country’s primary fiscal deficit this year, under a $57 billion standby financing pact signed in 2018 with the International Monetary Fund. Macri negotiated the pact to halt a run on the peso last year.

Macri took office in late 2015, promising to “normalize” the economy after years of heavy-handed currency controls and other interventions in the markets under previous president Cristina Fernandez de Kirchner, who is running as Alberto Fernandez’s vice presidential candidate.


But Macri over-estimated his ability to attract the foreign direct investment needed to make the economy grow, while under-estimating the effect that cutting public utility subsidies would have on inflation. His popularity fell as consumer prices, especially home heating gas and electricity bills, shot higher.

Kirchner has been silent since the primary election and Fernandez says he and he alone will determine policy should he be elected. Reviled by business leaders as a free-spending populist who blew out government fiscal accounts during her two terms in office, Kirchner is loved by millions of low-income Argentines who benefited from her generous social programs.

 

[m.m.f]

MERVAL

BCBA: IMV
27.977,74 +747,12 (2,74%)
Chiuso: 21 ago, 17:26 GMT-3


ieri ha perso il 10 di nuovo oggi recupera quasi 3...

 

[m.m.f]

USD/ARS 55,0000 +0,0000 +0,00%

il peso non ne recupera un bel nulla anzi da ieri peggiorato stante gli sforzi...e questo non è assolutamente bello da vedersi...(altro che lira turca...)

potrebbero fare un esperimento e vedere sè non intervengono assolutamente in 10 giorni dove và a finire così il quadro è chiaro del tutto...

 

[Brizione]

Sono due:
XS0501195993
XS0205537581

Tra queste ci sono differenze a parte il tasso differente?
Stranamente la 993 su Berlino quota 4 punti in meno rispetto la 581 che ha tasso del 1,2% ....cioè circa due terzi meno della 993
Grazie per la risposta

 

[Jsvmax79]

El BCRA colocó 111.157 millones de pesos (unos 2.027 millones de dólares) a una tasa promedio del 74,982%, frente a un rendimiento de 74,973% de la subasta previa