Weekly Reports

The Whirlwind of Pesos

Second week
of June 2022
And one day it happened. The bond market in pesos slumped and investors flocked out of CER bonds to stay in liquidity funds and fixed terms. The catastrophe was such that some titles that yielded negatively with respect to inflation began to pay 10 points above the IPC. This changed the physiognomy of the local mark...

Changes in Foreign Exchange Restrictions Begin

First week
of June 2022
The government knows that with an FX spread of 70/80% it is very difficult for the economy to find a balance, even if it is precarious. If we add fiscal and monetary issues to that, the imbalance is even more serious. To remove the restrictions on the FX market, even partially, in some sectors one must either have d...

Change of Discourse?

Second week
of May 2022
Minister of Economy, Martín Guzmán, has changed his speech. On more than one occasion this week he made statements that are more similar to what we professional economists have been saying than those he himself said in his role in the government. He pointed out that the country cannot have a permanent deficit, much ...

The World´s Economy Is More Complex Than What the Market Believes

Fifth week
of April 2022
The world economy is getting complicated. Those who gambled in 2021 that the rise in inflation was going to be temporary, exacerbated by the consequences of the pandemic on some markets such as microprocessors, have been losing in considerable amounts. This year inflation did not only not go down, but it accelerated...