After STEP 2021, stocks rise here and on Wall Street: How is the economic week?

The Monday after PASO 2021 had been a mystery for several days and all eyes were on the market reaction. After the results Sunday, it cleared in a week which, in itself, is overcrowded with economic issues.

Even before the opening of the stock market round in the city of Buenos Aires and the opening of the price of the dollar that in his blue version he Friday closed at $ 185, the first reactions had already been anticipated in one of the main international squares.

On Wall Street the price of Argentine companies exploded that operate in that square and came to have raise up to 15%. Also they bonds they registered a rebound and, in some cases, gained 6%.

There is only one possible reading that will surely be repeated throughout the national day. For the markets, the result of the STEP 2021 is positive that implied a setback for the government of the president Alberto Fernandez on 18 of the 24 provinces, even when the legislative vote is missing, the November 14th next.

This Tuesday, National Institute of Statistics and Censuses (INDEC) will release the Consumer Price Index (CPI) of August, that would have reached 2.8%, below 3% in July, according to private consultancies surveyed by the central bank.

The Minister of Economy, Martin Guzman, he assured days before PASO 2021 that “we are forecasting the month-on-month inflation rate to go on a downward path. Is what has been happening“.

Just this week The minister should disseminate what will be the main economic guidelines that the Government expects for 2022. The 2022 Budget project should enter Congress in the coming days and should set the GDP (growth) dollar and inflation expected for next year.

By AG

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