by Juan Pablo MarinoFollowing the frenzied definition of candidacies last weekend, investors sped up the so-called “electoral trade” on Monday, June 26, after the news that Economy Minister Sergio Massa will lead the ticket. Argentine bonds and stocks saw record rises, in some cases up to double digits, both in Wall Street and the local stock market. The assets “extended the ‘electoral trade’ that was already in the works, in an anticipated wager on a political change of times,” he added. In the local stock market, highlights included stocks by Edenor (+17.1%); Banco Macro (+7.4%); banco BBVA (+6.8%), and Mirgor (5,2%). Finally, CER bonds went up an average of 0.5% across the curve, and the DICP stood out again, as it climbed by 3%,” according to SBS.

Source: Bueno Aires Herald June 28, 2023 10:40 UTC