The bonuses and Argentine actions fell again this Friday, March 17, on Wall Street due to the impact of the financial crisis in the United States, as well as the critical situation of the Swiss creditto whose aid the Central Bank of Switzerland.
Argentine papers listed on NY they drop up to 10% in case of Takeoff and the casualties also affect the actions of edenor (6.5%), BBVA Bank (5.4%), Banco Macro (5,3%) y Galician Financial Group (5%).
Meanwhile, the S&P Merval in dollars of the Stock Market and Argentine Markets fell close to -1.2% and accumulates in the month a drop of –18,4%according to data from Rava Bursátil.
In addition, global bonds with a short maturity curve they operate to the downside leading andl Global 2029 which falls by 3.51%, while the Global 2030 falls by 2.12% and the country risk advances 40 units and is located at 2364 basis points.
First Republic Bank shares resume the fall and sink 22%
The leading panel shot up 6.5% on the eveaccumulates an improvement of 8% so far this yearcompared to inflation estimated by analysts at around 15% in the same period.
The explanation for the large debt faced by banks
When interest rates were low and asset prices high, banks filled up on long-term bonds. It was March 16, 2022when the chairman of the Federal Reserve, Jerome Powellhe took on the inflation spike he had thought would fadewhich led to them finally moving faster and more furiously than anyone expected.
It started slowly with a quarter point rise. However, andIt would be the first of a series of increases that have so far totaled 4.5 percentage points and included four hikes of 0.75 percentage points. The benchmark is now in a range of 4.5% to 4.75%.
The resounding collapse of the Silicon Valley Bank allows us to observe the underestimated risk within the system. Well, at higher interest rates, and taking into account that a new upward adjustment may come next week, bond prices plummeted, generating huge losses for banks.
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