Dollar Bonds Trade Mixed, Country Risk Below 500 Points

Dollar bonds open mixed as country risk hovers around 500 points. Inflation in CABA fell to 1.7% in August, down from 2.9% in July, accumulating 21.5% in the first eight months of the year and a year-on-year variation of 33.3%. However, the IPI contracted nearly 5% annually in July, creating uncertainty in the market. In the peso market, liquidity has increased, with REPO operations reaching 3 trillion pesos and a collateral with a yield of 1.65% per month. A Treasury auction is expected to raise 9 trillion pesos in maturities. Economists warn that if August does not show a rebound, it could be difficult to avoid a technical recession.

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