With the arrival to the White House from Donald Trump, doubts about the course of the economy seem more than justified. For this reason, PROFILE consulted analysts on how understanding the impact on the active financial local and what choice to protect heritage.

Carlos Donantueno, CEO of CD&To Financial Services, pointed out that the market already took note of the measures announced by the President North American. "If we observe travel rate to" 10 years American, He gave almost 5% Since the 2,60% in mid-December, when the Fed increased rates observed in 25 basic points, We could assume that the market finally discounted the measures announced by Trump, having even estimated how many of them are truly applicable to the reality”.

With the rising and the strengthened dollar gold, These are the recommendations of experts for investments of $ 50.000 hereafter made by the Maxinver firm:

◆ Investors moderate. After the success of the money laundering, the adoption of the new law of profits and the stabilization of the American interest rate, "the emerging bonds are an attractive investment for portfolio alternative dollar", says Juan Lavagno, Maxinver market analyst. In this context, Argentine assets have the highest yields in the region. This situation is extended to a variety of corporate and provincial assets. The longest sovereign bonds not only possess an attractive income, but also the possibility of compression of risk.

◆ Conservative spirits. Yields the Lebac - debt issued by the Central Bank - are still the most attractive since its average yield is equivalent to the rate Badlar + 3%, ensures Lavagno. CER assets that were incorporated into the portfolio since it expected inflation for the year 2017 in the range of 20%-22,5% annual. The preferred bond is the Discount in pesos and also look attractive in emissions of companies that adjusted by the rate Badlar.

◆ Aggressive hearts. In a context with greater appetite for equities, driven by the expectation of global growth led by us. UU. and the expectation of growth in the domestic economy, Lavagno considers that the actions of the banking sector, energy and steel industry are a good opportunity. Given that Maxinver expected a devaluation of the peso of between 18% y 20% for this year, They recommend investing in fixed income securities (sovereigns, sub-sovereign and corporate) in dollars with yields of 7%, always with "coverage" of rates.

Historic day on Wall Street

The dollar ended the week at $ 16,19 after descending 8 cents yesterday, and the prospect of the operators who expect that Exchange rate ronde the 15,80 y 16 dollars in the next few weeks. Central Bank reserves are over US $ 40.000 million.

On the stock exchange, the Merval exceeded the 19.000 points, in line with Wall Street, What received for the first time in 50 years to a new American President with positive sign. In Buenos Aires the Merval advanced 2,2%, accumulating a 12,5% so far from 2017. Siderar captured the interest and soared 7%, followed by Agrometal, who won 5,7%, in a wheel in which it operated an amount 18% most of the Thursday. Dollar bonds had a slight decline of 0,2%, explained by a profit taking.

By Paola Quain. | This note was posted on the edition printed in the daily profile.