Currently, as the Bases Law progresses through Congress and is being discussed in detail after its approval by Deputies, Argentine stocks are on the rise while bonds are falling. This positive streak for Argentine stocks follows good results from the banking sector, which saw up to a 9% rise locally, primarily due to the resurgence of mortgage loans.

In contrast, on the New York stock market, the Dow Jones index experienced a 0.7% decrease. ADRs such as Galicia, Edenor, and BBVA have shown increases of 3.3%, 2.5%, and 2.4%, respectively, while others like Despegar, Globant, and Loma Negra have seen losses of 4%, 1.9%, and 1.8%. The AL 41 bond which fell 3.7% is an exception to this trend among public securities which averaged a 1% decrease with some exceptions like AL 29 which increased by 60% in the year despite declining by just -4% in April when Merval advanced by only -9%.

Financial experts believe that successful negotiations with the opposition on key financial issues such as recovery of Income Tax by governors have had a positive impact on the market. The blue dollar has dropped by five pesos now trading at $1.040 while cash with liquid and MEP experienced slight increases amidst a correction of official dollars at -0.1% closing at $877 for the month representing an increase of just +8%.