Interest Rates Rise Sharply as a Result of Treasury Dollar Sales

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The enormous and increasingly costly efforts made by the Government to contain the dollar, in an attempt to prevent its quote from touching the ceiling of the float band and forcing the Central Bank (BCRA) to re-sacrifice reserves that are not its own, led to short-term interest rates taking back temperature on the last wheels.The phenomenon is caused by a peak of illiquidity in the market caused by the government's movement of tweezers to withd…

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The constant official intervention to contain the currency takes weights out of the market and pushes up the yields in pesos in the midst of currency uncertainty

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Since the beginning of the week, the lack of liquidity in pesos put on the table a new rise in the rates of the take-over security, which has already climbed to 44% TNA for the term to one day.

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The pre-electoral dollarization of savers and investors, the absorption of pesos by Treasury sales, and the fall in the volume of simultaneous operations of the Central Bank left the financial system without liquidity.That's why yesterday, a phenomenon was reissued that had started on Monday: the rise in interest rates of the bonds and the shorter Lecap.Key negotiation "Trade Bessent": the market calculates its impact on shares and bonds Leandro…