{"id":43729,"date":"2025-07-30T10:58:43","date_gmt":"2025-07-30T13:58:43","guid":{"rendered":"https:\/\/www.bancocmf.com.ar\/cmf-pre-market-30-07-25\/"},"modified":"2025-07-30T10:59:20","modified_gmt":"2025-07-30T13:59:20","slug":"cmf-pre-market-30-07-25","status":"publish","type":"post","link":"https:\/\/www.bancocmf.com.ar\/en\/cmf-pre-market-30-07-25\/","title":{"rendered":"CMF PRE-MARKET 30-07-25"},"content":{"rendered":"\n<p><strong><em>Cae el plazo promedio de colocaci\u00f3n del Tesoro<\/em><\/strong><\/p>\n\n\n\n<p><em>En la licitaci\u00f3n del d\u00eda de ayer, el plazo promedio de colocaci\u00f3n fue de 40 d\u00edas, mostrando una clara reducci\u00f3n con respecto a las subasta anteriores. La eliminaci\u00f3n de las LEFI tuvo, en cierta medida, el efecto esperado por el equipo econ\u00f3mico; ahora, el Tesoro es quien maneja la pol\u00edtica monetaria mediante las licitaciones. La expansi\u00f3n o absorci\u00f3n de liquidez est\u00e1 en manos de la Secretar\u00eda de Finanzas y su compromiso de convalidar las tasas del secundario o pagar premio para extraer pesos del sistema. En la subasta de ayer, el Tesoro tom\u00f3 casi la totalidad de lo ofrecido por el mercado, a tasas levemente m\u00e1s elevadas. <strong>El bajo rollover se explica, principalmente, por el aumento del efectivo m\u00ednimo a partir de agosto. El ofrecimiento de opciones dollar-linked y su nula demanda por parte de inversores no tuvo que ver tanto con una falta de inter\u00e9s por cobertura cambiaria, sino por el hecho de que el sint\u00e9tico DL es m\u00e1s atractivo<\/strong>.<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Mercado de cambios:<\/strong> el d\u00f3lar oficial (A3500) abre la rueda en zona de $1.295.<\/li>\n\n\n\n<li><strong>Licitaci\u00f3n del Tesoro: <\/strong>enfrentando vencimientos por $11,8 billones, el Tesoro logr\u00f3 colocar ayer $9 billones en la subasta, alcanzando un rollover del 76,34%. Adjudic\u00f3 todas las LECAPs ofrecidas, el bono CER y el dollar-linked a diciembre 2025, declarando desiertos los bonos dollar-linked a agosto, septiembre y octubre.<\/li>\n\n\n\n<li><strong>Reservas: <\/strong>el Banco Central inform\u00f3 que las reservas brutas aumentaron USD 1.098 MM ayer, alcanzando los USD 41.241 MM, producto del nuevo desembolso del BID.<\/li>\n\n\n\n<li><strong>Contexto internacional:<\/strong> en Estados Unidos, la actividad sorprendi\u00f3 al alza en el segundo trimestre; el PBI creci\u00f3 3,0% t\/t anualizado contra un 2,3% esperado por el mercado. La mejora se explica principalmente por un incremento del consumo de 1,4%, pero se compens\u00f3 por un debilitamiento en el gasto de las empresas. Trump amenaza a India con imponer una tarifa del 25% y nuevas sanciones por comerciar con Rusia. Por el lado de la pol\u00edtica monetaria, la Fed comunicar\u00e1 su decisi\u00f3n de tasas a la tarde; se espera que no haya cambios en la Fed Funds. A pesar de la expectativa del mercado, los medios anticipan disenso en la mesa de decisiones de la Fed, con varios miembros del FOMC votando en contra del presidente Jerome Powell.<\/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>Cae el plazo promedio de colocaci\u00f3n del Tesoro En la licitaci\u00f3n del d\u00eda de ayer, el plazo promedio de colocaci\u00f3n fue de 40 d\u00edas, mostrando una clara reducci\u00f3n con respecto a las subasta anteriores. La eliminaci\u00f3n de las LEFI tuvo, en cierta medida, el efecto esperado por el equipo econ\u00f3mico; ahora, el Tesoro es quien maneja la pol\u00edtica monetaria mediante las licitaciones. La expansi\u00f3n o absorci\u00f3n de liquidez est\u00e1 en manos de la Secretar\u00eda de Finanzas y su compromiso de convalidar las tasas del secundario o pagar premio para extraer pesos del sistema. En la subasta de ayer, el Tesoro [&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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La eliminaci\u00f3n de las LEFI tuvo, en cierta medida, el efecto esperado por el equipo econ\u00f3mico; ahora, el Tesoro es quien&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 9 months ago","modified":"Updated 9 months ago"},"absolute_dates":{"created":"Posted on July 30, 2025","modified":"Updated on July 30, 2025"},"absolute_dates_time":{"created":"Posted on July 30, 2025 10:58 am","modified":"Updated on July 30, 2025 10:59 am"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts\/43729","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=43729"}],"version-history":[{"count":1,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts\/43729\/revisions"}],"predecessor-version":[{"id":43730,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/posts\/43729\/revisions\/43730"}],"wp:attachment":[{"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/media?parent=43729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/categories?post=43729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bancocmf.com.ar\/en\/wp-json\/wp\/v2\/tags?post=43729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}