{"id":40922,"date":"2025-01-02T10:29:35","date_gmt":"2025-01-02T13:29:35","guid":{"rendered":"https:\/\/www.bancocmf.com.ar\/cmf-pre-market-02-01-25\/"},"modified":"2025-01-03T11:42:17","modified_gmt":"2025-01-03T14:42:17","slug":"cmf-pre-market-02-01-25","status":"publish","type":"post","link":"https:\/\/www.bancocmf.com.ar\/en\/cmf-pre-market-02-01-25\/","title":{"rendered":"CMF PRE-MARKET 02-01-25"},"content":{"rendered":"\n<p><strong><em>Equity<\/em> argentino finaliza el 2024 en lo m\u00e1s alto<\/strong><\/p>\n\n\n\n<p><em>El a\u00f1o 2024 fue excelente para los activos de riesgo argentinos, con el equity alz\u00e1ndose en lo m\u00e1s alto del ranking mundial. Cuando se analiza los rendimientos de los ETFs globales por pa\u00eds, Argentina (ARGT) se llev\u00f3 el primer puesto en el 2024, con un retorno de 63,5%, seguido por Israel (34,5%) y EE.UU. (24,9%). Mejor a\u00fan, si se calcula el retorno total en d\u00f3lares (CCL) del Merval, la ventaja del equity argentino por sobre el resto es mayor, con un rendimiento de casi 120%. La estabilizaci\u00f3n de las variables macro, en conjunto con un fuerte cambio de expectativas producto de las pol\u00edticas pro-mercado del gobierno de Milei, ha empujado a las acciones argentinas a una performance que quedar\u00e1 en los libros de historia. <strong>Para 2025, el mercado espera que contin\u00fae el rally, aunque con mayor cautela, dado los niveles de valuaci\u00f3n actuales.<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Mercado de cambios:<\/strong> el BCRA contin\u00faa su <em>crawling peg<\/em> del 2% mensual y el FX mayorista abre la jornada en $1.032.<\/li>\n\n\n\n<li><strong>FMI: <\/strong>de acuerdo con Bloomberg, en enero el Directorio del FMI revisar\u00e1 el actual programa de ayuda a Argentina como paso previo a un nuevo acuerdo.<\/li>\n\n\n\n<li><strong>Liquidaci\u00f3n del agro:<\/strong> seg\u00fan CIARA, el sector agro liquid\u00f3 en diciembre USD 1.999 MM, lo que implica un aumento interanual del 58%. En todo el 2024, el monto liquidado ascendi\u00f3 a USD 25.091 MM, un nivel 27% superior al de 2023.<\/li>\n\n\n\n<li><strong>Saldo en el MULC: <\/strong>el Banco Central compr\u00f3 el lunes USD 32 MM, por lo que el saldo acumulado en diciembre fue de USD 90 MM.<\/li>\n\n\n\n<li><strong>Contexto internacional: <\/strong>al momento de escribir estas l\u00edneas, el real brasile\u00f1o abre el 2025 con una nueva depreciaci\u00f3n frente al d\u00f3lar de 0,56% y contin\u00faa en zona de m\u00e1ximos hist\u00f3ricos. La intervenci\u00f3n del BCB fue insuficiente para controlar la depreciaci\u00f3n de la moneda del pa\u00eds m\u00e1s grande de Sudam\u00e9rica. Las acciones reflejaron la volatilidad del tipo de cambio y el ETF de Brasil (EWZ) anot\u00f3 el peor rendimiento del a\u00f1o, con una ca\u00edda de 30,5% en 2024. En EE.UU., por su parte, las tasas abren el a\u00f1o a la baja, luego del rally de diciembre. Las acciones operan al alza en el <em>pre-market<\/em>. Recordamos que Trump asumir\u00e1 la presidencia el 20 de este mes por los pr\u00f3ximos 4 a\u00f1os.<\/li>\n<\/ul>\n\n\n\n<p><strong>Este informe ha sido elaborado a t\u00edtulo informativo. El presente NO debe ser tomado como una recomendaci\u00f3n o instrucci\u00f3n, y no reviste car\u00e1cter de ofertas de productos y\/o servicios ni solicitud de orden&nbsp;de compra y\/o venta. Banco CMF S.A. no ser\u00e1 responsable por ning\u00fan error y\/u omisi\u00f3n del contenido.<\/strong><\/p>\n\n\n\n<p><strong><em>Copyright \u00a9 2017 Banco CMF S.A. All rights reserved.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equity argentino finaliza el 2024 en lo m\u00e1s alto El a\u00f1o 2024 fue excelente para los activos de riesgo argentinos, con el equity alz\u00e1ndose en lo m\u00e1s alto del ranking mundial. Cuando se analiza los rendimientos de los ETFs globales por pa\u00eds, Argentina (ARGT) se llev\u00f3 el primer puesto en el 2024, con un retorno de 63,5%, seguido por Israel (34,5%) y EE.UU. (24,9%). Mejor a\u00fan, si se calcula el retorno total en d\u00f3lares (CCL) del Merval, la ventaja del equity argentino por sobre el resto es mayor, con un rendimiento de casi 120%. La estabilizaci\u00f3n de las variables macro, [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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Cuando se analiza los rendimientos de los ETFs globales por pa\u00eds, Argentina (ARGT) se llev\u00f3 el primer puesto en el 2024, con un retorno&hellip;","coauthors":[],"tax_additional":{"categories":{"linked":["<a href=\"https:\/\/www.bancocmf.com.ar\/en\/category\/pre-market-daily-close-en\/\" class=\"advgb-post-tax-term\">Pre Market &amp; Daily Close<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Pre Market &amp; Daily Close<\/span>"]}},"comment_count":0,"relative_dates":{"created":"Posted 1 year ago","modified":"Updated 1 year ago"},"absolute_dates":{"created":"Posted on January 2, 2025","modified":"Updated on January 3, 2025"},"absolute_dates_time":{"created":"Posted on January 2, 2025 10:29 am","modified":"Updated on January 3, 2025 11:42 am"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts\/40922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/comments?post=40922"}],"version-history":[{"count":2,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts\/40922\/revisions"}],"predecessor-version":[{"id":40957,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts\/40922\/revisions\/40957"}],"wp:attachment":[{"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/media?parent=40922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/categories?post=40922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/tags?post=40922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}