The Government obtained the necessary votes to approve the labor reform bill in the Chamber of Deputies and now all that remains is for the changes to be ratified in the Senate.
Argentine assets rise this Friday – with the S&P Merval on the rise, and the country risk in retreat-, after In the early hours of the morning, the Chamber of Deputies approved the labor reform promoted by President Javier Milei. Now, the initiative must be ratified by the Senate to become law.
In this framework, the S&P Merval advances 1.2% to 2,872,977.24 basis points and among the stocks that rose the most are: Transener (+5.2%), BYMA (+3.2%); and Galicia (+3.1%). Despite the recent increases, the stock indicator loses 6.1% so far in 2026
“The axis of the (labor) reform aims mainly at the formalization of employment, so its eventual contribution to productivity and potential growth would have a clearer correlation in the medium term than in the short term”estimated Portfolio Personal Investments (PPI).
Bonds and country risk
For their part, sovereign bonds in the local market operated with slight and selective improvements of 0.1%, led by dollarized issues.
The Argentine country risk fell 1.3% to 517 units. “The country risk returned to the area of 500 to 520 basis points after having broken through 500 and reached 484 points, the minimum of the Milei era – and the minimum since June 11, 2018 -“recalled Emilio Botto of Mills Capital Group
“The movement is aligned with a general correction of equity and emerging markets due to portfolio rotation in the US market, rather than with a specific deterioration in local variables”estimated
In the exchange market, the wholesale dollar fell again and is now at $1,381, at a time when the Central Bank (BCRA) continues to add foreign currency purchases for its reserves. The day before, the BCRA bought 76 million dollars from the market, totaling 2,245 million dollars since the implementation of a new exchange scheme at the beginning of the year.
“Since the beginning of the new exchange scheme, the BCRA bought dollars every day except January 2, with average daily purchases of 68 million dollars,” Max Capital said.