Overview
- The BCRA bought about US$55 million on Monday, marking a sixth straight session of net purchases, lifting gross reserves by US$372 million to roughly US$44.678 billion despite a recent ~US$4.2 billion debt payment.
- Exchange rates were broadly stable with the official dollar near $1,490 at Banco Nación and the blue around $1,505, while the wholesale rate closed near $1,467.50 and gaps with MEP and CCL remained narrow.
- Local assets softened as the S&P Merval fell about 0.4%, several ADRs declined, sovereign bonds edged lower, and JPMorgan’s country risk hovered around 573–577 basis points.
- Tight liquidity persisted, with the 7‑day caución near 32.22% TNA and notable intraday volatility, as markets look to the January 14 Treasury auction of LECAPs, BONCAPs, LECERs and dollar‑linked bonds to inject pesos.
- Globally, the S&P 500 and Nasdaq set record highs on tech strength, the dollar index eased following DOJ news involving Fed Chair Jerome Powell, and precious metals advanced to new peaks.