This caused a sharp drop in the international price of oil: The
Brent barrel
fell by almost 14%.WTI declined by around 16%.
Argentina's country risk plummeted by almost 10% and hit months' lows after the global euphoria over the ceasefire in the Middle East.
This caused a sharp drop in the international price of oil: The
Brent barrel
fell by almost 14%.WTI declined by around 16%.
Argentina recorded a strong improvement in its financial indicators this Wednesday after the country's risk plummeted by almost 10% in operations prior to the local opening, driven by the climate of global optimism generated after the ceasefire announced by Donald Trump in the conflict with Iran.
The indicator developed by JPMorgan Chase fell from 610 basis points at the previous close to 551 units, marking a drop of 9.67% and reaching its lowest level in several months.
collapse of the EMBI, Argentine sovereign bonds traded
on Wall Street showed strong increases.Argentine government bonds rose between 1.2% and 2.4%, reflecting a renewed appetite among investors for emerging assets and especially for Argentine debt.
The improvement occurs in a context where the market continues to reward the signs of macroeconomic stabilization promoted by the government of Javier Milei.
Argentine assets coincided with a day of strong recovery in international markets following the announcement of a two-week bilateral ceasefire between the United States
and Iran.Trump announced the decision through Truth Social, where he stated:
weeks.”“I agree to suspend bombing and attacks on Iran for a period of two
The news was later confirmed by Iranian Foreign Minister Abbas Araghchi, who assured that Tehran would also stop its military operations as long as US attacks cease.
One of the main immediate effects of the agreement was the partial reopening of the Strait of Hormuz, key
The drop in crude oil eased global inflationary fears and triggered a buying wave in stock markets: The S&P 500 rose 2.7%
.
The Nasdaq-100 climbed 3.5%.
The Dow Jones Industrial Average rose 2.5%.
Financial analysts argue that the fall in oil and geopolitical relaxation could open the door to future rate cuts by the United States Federal Reserve, which
would further favor emerging markets such as Argentina.In this context, the strong compression of country risk appears as another sign of a recovery in investment confidence in the Argentine economy.
The fall in the indicator also strengthens expectations that the Government can move towards a possible return to international credit markets if the trend continues.