Argentine bonds jump on budget, cenbank tames peso

miércoles 16 de septiembre de 2009 16:56 ART

 (Updates with peso and bonds close)
 BUENOS AIRES, Sept 16 (Reuters) - Argentina's stock,
currency and bond market trends on Wednesday:
 * Argentine stocks rose in late-afternoon trade and bonds
and the interbank peso closed firmer, boosted by economic
forecasts in the 2010 federal budget, which were seen as
indicating the government might be trying to restore
credibility to its outlooks and data.
 * Bonds traded over the counter in Buenos Aires jumped for
a fourth consecutive session, by an average 1.8 percent.
 * The dollar-denominated Boden 14 ARBODEN14D=RASL added
3.3 percent to an ask price of 28.20.
 * The peso-denominated Disc ARDISCP=RASL bond advanced
3.11 percent to an ask price of 106.
 * The peso strengthened for a third consecutive session,
but moderated gains after the Central Bank stepped in to buy
dollars and put the brakes on the appreciation.
 * Factors motivating peso buying are a global trend of a
weaker dollar, the positive sentiment over the budget forecasts
and demand for pesos to buy peso-denominated debt.
 * The peso strengthened 0.07 percent to 3.8275/3.8300 per
dollar in formal interbank trade ARS=RASL, its firmest level
in more than a month.
 * In trade between foreign exchange houses, as measured by
Reuters, the peso weakened 0.06 percent at 3.8425/3.8475
 * A market source told Reuters the Central Bank had
purchased $180 million in dollars on Tuesday and $50 million on
Wednesday to keep the peso from strengthening further. The
Central Bank keeps the peso from sharp fluctuations through a
managed float.
 * The MerVal benchmark stocks index .MERV jumped 2.34
percent to 1,975.89, its highest level since July last year.
 (Reporting by Walter Bianchi and Jorge Otaola, writing by
Fiona Ortiz; Editing by Dan Grebler)