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SALVADOR DI STEFANO: EL AÑO EN QUE LA TASA LE GANÓ AL DÓLAR

El año en que la tasa le gano al dólar. Los años 2016 y 2017 dejaron grandes utilidades para las lebac, acciones y bonos, mientras que el dólar fue una mala inversión. En el año 2018 las perspectivas deberían cambiar, de lo contrario la argentina estará más cara en dólares y el consumo se seguirá resintiendo. La política de financiar con deuda estos desequilibrios no es infinita. En el año tuvimos 16 licitaciones de tasas de interés llevadas adelante por el Banco Central bajo la denominación de lebac, la tasa promedio fue del 25,1% anual, sin embargo, si reinvertimos los intereses la tasa se eleva al 28,3% anual. El tipo de cambio paso de $ 15,85 al 31 de diciembre de 2016, al nivel de $ 17,87 al cierre del día jueves, una suba del 12,8% anual. La tasa duplico largamente la rentabilidad del dólar, si apostaste a lebac ganaste un 15,5% anual en dólares. ¿Qué efectos dejo en la economía real estos resultados? claramente un dólar poco competitivo para exportar, y muy atractivo para...

OIL PRICE INTELLIGENCE REPORT

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Oil prices were flat on Friday amid light trading as the holiday approaches. After a volatile year, it appears that oil markets are set to enter the New Year in a far calmer manner. Important Note for Energy Investors:  The World Economic Forum, the Institute of Electrical and Electronics Engineers, the MIT Technology Review, prestigious national laboratories, and a slew of other experts are buzzing about this new element that will transform the energy industry. Early investors are already reaping the benefits.  Are you in?    Friday, December 22, 2017 Oil prices were flat amid light trading at the end of the week after strong gains on Thursday. The EIA reported some mixed figures – more strong oil production gains from the U.S., but also a sizable drawdown in crude inventories. The approaching holidays has the market subdued. Saudi oil minister: Market will rebalance in 2H2018.  Saudi oil minister Khalid al-Falih told  Reuters  that the inventory sur...

OIL INTELLIGENCE REPORT

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In today’s newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week. We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Important Note for Energy Investors:  The World Economic Forum, the Institute of Electrical and Electronics Engineers, the MIT Technology Review, prestigious national laboratories, and a slew of other experts are buzzing about this new element that will transform the energy industry. Early investors are already reaping the benefits.  Are you in?   -    Brazil’s oil production  surged  this year, jumping to 3.3 million barrels per day (mb/d), up from 3.2 mb/d in 2016 – a figure that includes other liquids production. -    The increase came largely from the pre-salt, which surpassed 1 mb/d in 2017...

OIL INTELLIGENCE REPORT

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Oil prices retreated somewhat towards the end of the week to close the week flat on the news of a falling oil rig count. Important Note for Energy Investors:  The World Economic Forum, the Institute of Electrical and Electronics Engineers, the MIT Technology Review, prestigious national laboratories, and a slew of other experts are buzzing about this new element that will transform the energy industry. Early investors are already reaping the benefits.  Are you in?     Friday, December 15, 2017 Oil prices fell back from their highs earlier this week after the Forties outage, as the IEA dashed hopes of continued bullish momentum when it reported that the global supply surplus could return in 2018. Inventory surplus shrinks.  OPEC said that the global surplus in oil inventories dropped to 130 million barrels above the five-year average in November, down sharply from 154 million barrels the month before. “We are beginning to see a return to stable markets,” OPEC Se...