Overview
- The central bank signaled it will begin net purchases of foreign currency to rebuild reserves and stabilize the exchange rate.
- Energy issuers Tecpetrol and YPF sold more than US$1 billion abroad, reflecting renewed access as country risk fell to about 657 basis points.
- Research firms expect additional corporate and provincial deals in the coming weeks, with potential dollar inflows into the MULC seen as supportive for the BCRA’s strategy.
- Post‑election pricing surged, with sovereign bonds up roughly 20.4% and the Merval jumping 51.4% in the week after the vote.
- Macro data remain weak, as consultancies estimate a September GDP decline that signals a technical recession, with investment posting two straight quarterly drops.