The Stern-Editorial found out about the maneuver in the video conference on Tuesday morning. “The horror is great,” says one who was there. The news quickly made the rounds in the industry, and then the publisher got in touch. Gruner + Jahr start up with its magazines Stern,Capital and Business Punk “A joint office in the capital,” as it is called according to the press release. From March 1st, 35 journalists in print and digital from the Berlin editorial team will report on Germany’s economy and politics. In other words: The “Politics and Economy” editorial department of the Stern in Hamburg with 17 employees will be dissolved, the contents will henceforth be taken from the Berliner Stern-Office and Capital supervised that merge.
Horst von Buttlar takes over the management, he remains editor-in-chief of the business magazine Capital, Managing Director of G + J Wirtschaftsmedien and is expanding the editor-in-chief of the Stern. All coverage of politics and business in Stern, Capital and Business Punk According to the announcement, will come from this capital office in the future. “What makes more sense than concentrating the journalistic power of two strong – and friendly – brands in the capital?” They ask Stern– Editors in chief Anna-Beeke Gretemeier and Florian Gless in the message. “And that in an election year too?” The workforce is less enthusiastic.
The 17 editors in the politics and economics department in Hamburg will “for the most part have other tasks Stern take over “, informs the publisher. Operational layoffs should be” avoided as far as possible. “G + J is trying to further bundle its brands and channels Stern, has been weak for a long time, and that of des Capital even more. The guaranteed sold edition of the Stern, formerly more than a million copies, was recently only 320,000 issues.
Some employees from the Stern however wonder how well Stern and Capital match. And they are disturbed by how they are dealt with, especially in times of Corona and home office. Wednesday is at Stern Works meeting.
The new president of the United States could carry out a series of measures that could increase or collapse the price of the cryptocurrency
From this Wednesday the path of Joseph Biden as president number 46 in American history. Gone will be his crosses with Donald Trump and allegations of fraud, but forward the future of the world’s leading power is uncertain.
It is not an evil unique to the United States. The pandemic coronavirus caused a impact in all countries of the world, whose actual effects cannot yet be precisely determined.
The economy is in crisis on a planetary level. Preliminary figures from the World Bank assure that global gross product fell 4.3% during 2020 and maintain an optimistic 4% growth for this year.
But it exists another “world” that never stops growing: that of cryptocurrencies. Measured in dollars, market capitalization (could be considered a “GDP”) is increased five times: of US $ 194,000 million to u $ s1.05 trillion. Two-thirds correspond to Bitcoin.
Thus, Biden shall handle the destinies of the mightiest nation of the planet after a year in which the most popular cryptoasset “graduated” from trusted financial asset with the entry of renowned investors and large companies that bet on it and skyrocketed its price.
And decisions of the new president can impact the digital currency most used in the world.
To revive the economy devastated by covid-19, Biden announced that it will print u $ s1.9 trillion (1.9 billion). That add up to an amount for the monetary expansion ordered by its predecessor in 2020.
“Three out of every four dollars were issued this year. It can inflate a lot of dollar-denominated prices, “he tells iProUP Matías Bari, CEO of SatoshiTango, who affirms that this will end impacting inflation and –obviously– in older people taking refuge in crypt.
Alberto Vega, CEO of Bithan, agrees with this diagnosis. iProUP that “up to now the fiat money as debt and a change of era is coming, in which governments will no longer be able to control it. ”
“The logic is that keep going up bitcoin. Reference prices will increase and people will turn to commodities, such as stocks, metals and cryptocurrencies “, Add.
And he completes that “what we know about the entire history of Argentina has already been experienced by the US more than 10 years ago with the subprime mortgage crisis“, in reference to an economic shock that had aftershocks all over the world.
Iván Tello, CEO of Decrypto.la, adds to iProUP that “in Trump’s previous mega-issue, exchanges saw a significant increase: Coinbase announced that 100,000 customers bought $ 1,200 worth of cryptocurrencies, curiously, the same amount of subsidy“.
“Bitcoin is a big black hole sucking up all those funds. Stocks and cryptocurrencies will break your highs, why whoever keeps the ticket in hand will lose“, warns the expert, who maintains his prediction that the cryptocurrency will spend US $ 140,000 this year (see chart).
While Gastón Levar, Argentine representative of Airtm, indicates to iProUP what the upload process for the unbacked issuance is already happening.
“Much of that money it will go crypto and drive prices. The news has already started to impact: it works like someone telling you on WhatsApp that the dollar goes up and you run to buy, “he warns.
But not only the United States participates in this game. According to Vega, the European Union and China have plans to issue currency, which will also end up inflating the price of Bitcoin. And believe that a price of US $ 300,000 by the end of the year “would not be unreasonable”.
“The international context shows that there is no limit to the ‘little machine’. There is an internationalization of populism. Argentina is the best world economic laboratory and shows that issuing made the national currency lose 13 zeros in history “, highlights the executive.
Regulation in motion?
The US Financial Crimes Control Network (Fincen), an anti-laundering agency equivalent to the Argentine Financial Information Unit (FIU), plans to further regulate virtual exchange houses exchanges so that inform address and address of people who buy more than $ 3,000 in cryptocurrencies.
According to Tello, that it will not “tickle” you to Bitcoin, since every trading platform already complies with KyC (Know your Costumer o Know Your Customer) and requires supporting documentation to users.
“The ‘barrani’ transactions (informal) they will followexisting. In Argentina, the caves are 50 years old and will remain. Bitcoin allows you to jump all barriers“, he assures.
According to their analysis, there could even be a “bitcoin blue“, That trade on person-to-person platforms (P2P), off the state radar, with a higher price, which will end affecting the rise in the price of registered exchanges.
“That regulation will make all black money go to crypto before it enters into force “, says Levar, who indicates that the ecosystem has grown so much that until conformed one to a parallel economy.
In this sense, he states that “seven years ago, you could only buy rifles and drugs and on the dark web. Today there are legal ecommerce sites to buy any product and you can even buy a car. “
“I think will shoot a spike of which I do not know if there will be a correction. You’re going to have many people with black money in the world who are not going to send it to a tax haven, but will acquire Bitcoin “, complete.
For Vega, meanwhile, there will be two possibilities regarding regulation:
That scares the buyers and that pushes the price down
That the offer is restricted and pushes the price up
“It may have an effect in the short term, but in the medium and long term a perfect storm for bitcoin to skyrocket“, Add.
However, Beaudroit was hopeful with the appointment of Gary Gensler, as the holder of the Securities and Exchange Commission US (SEC), whom they claim is a sort of regulator in tune with new technologies.
“Gensler it cripto friendly: He is a professor at the Massachusetts Institute of Technology (MIT) and comes working with digital currencies a long time ago. It will not generate a change to the ecosystem, so he bull market(uptrend) It will continueYou have to see how long, “he says.
A “crypto tax”
Another of the rumors around Bitcoin is the possibility that in the Capitol (the ruling party will have a majority) it will propose regulate instant payments, in which Bitcoin could be contemplated.
In particular, what scares legislators is the mechanism known as proof of work (proof of work) used by the leading cryptocurrency is a great energy consumer.
Indeed, this method relies on the power of processing that people or companies contribute to the network, through supercomputers that work 24 hours a day, to solve calculation problems that offer robustness and validate transactions. In return, they receive the new coins that Bitcoin generates.
“Mining is a career in which greater efficiency is sought. In the long run it will pay off. But it is a myth. In Bitcoin you can calculate exactly what is consumed, but in fiat money you cannot and the expense is much higher“Tello points out.
And continues: “It is not known with certainty how much it costs to print the tickets, transport them to the banks, have the ATMs turned on all day, “he remarks.
Monetary expansion vs. Inflation: Experts Believe Stimulus Will Increase Demand (And Price) For Bitcoin
This will generate a new geopolitical panorama according to Levar. “If they leave the US, the race is won by Russia or China. In fact, these powers are waiting for more regulations from the White House to dominate the crypto market“, says the expert.
Vega coincides in the US technology race with China. “They are going to leave the United States, the price it will go up, but it will be corrected when those mining farms are located in another country“, he says.
Also, note that this it will not necessarily mean a run towards currencies that use the system Proof of Stake (Proof of Tenure), where those who have more coins have the power to validate transactions. Such is the case of version 2.0 in which Ethereum works to make operations more economical.
“The other unmined coins they don’t have the resilience of Bitcoin. They are not commoditizable, because they don’t have that solidity. Also, some, like Ethereum, are more centralized, “he adds. Thus, he states that Bitcoin is more reliable because the consensus system is not in few hands and it is something that will remain that way.
United States inaugurates president. In one of the most unique moments in history: during the humanity’s greatest pandemic, in full digitization and at a stage where money is changing forever.
The son of Vice President Cristina Kirchner has an increasing role within the Frente de Todos. What the public opinion thinks of him
Figure of Maximum Kirchner has more and more prominence within the Frente de Todos, not only because he is the head of the bench in the Chamber of Deputies, but also because his name is already beginning to sound both in relevant party positions in the Buenos Aires leadership, as well as his national projection.
Praised by Alberto Fernandez (“Hopefully he will be the next President”), and supported by a good part of the so-called “Barons of the Conurbano”, they make the son of Vice President Cristina Kirchner a reference in the province of Buenos Aires.
In this context, at the beginning of 2021, an electoral year, it was decided to find out how Máximo Kirchner is positioned in the public opinion and it was commissioned to measure it throughout the country, province by province, and the result for now is not what was expected: its image is bad or regular.
The Clarin newspaper published the work done by CB Public Opinion Consultant, a recent study with a sample between 500 and 1,250 cases in each district.
The leader of La Cámpora is known throughout the country. For being called Kirchner and for being the holder of the block of Deputies of the Front of All, the majority of those consulted know who it is, exceeding 70% in the entire territory and 80% in the largest provinces.
In 5 districts he has a better image: Santa Cruz, Tierra del Fuego, Formosa, Chaco and Santiago del Estero. In two of those provinces (Santa Cruz and Tierra del Fuego), it exceeds 50 acceptance points. The problem is in the territory where he militates and aspires to have a leading role: the province of Buenos Aires. The balance was not good with 38.4% in favor, 54.2% against, and 7.4% did not know or did not answer.
The saga of meetings of Máximo Kirchner coincides with a rise in profile and a growing role among the Peronist leadership of the country’s main electoral district and has as a correlation the generalized agreement, to be formalized between February and March, for the legislative head of the FdT to assume in front of the Buenos Aires PJ while President Alberto Fernández heads the national justicialism.
Máximo Kirchner was praised by Alberto Fernández (“I hope he is the next President”)
Maximum travel, something that will be increasingly common
The tours of the province of Buenos Aires by the founder of The field and national deputy had a starting point in the barbecue that brought together a good part of the leadership of the Frente de Todos, with the participation of the President, Governor Axel Kicillof and the head of the Chamber of Deputies Sergio Massa, and which was held December 30 in the town of José C. Paz, west of Greater Buenos Aires.
At present, the provincial justicialismo is in charge of the mayor Gustavo Menendez (Merlo), who since 2017 has alternated driving with his partner Fernando Gray (Esteban Echeverría). Gray should take over the last year in office until December 2021.
Among the mayors of the suburbs, there is a majority support for Kirchner to be the new party president. The exception seems to be Gray, although he did not express himself directly but he did in social networks with a double message “#Yomeplanto”, where he alluded to a plan to plant trees in his district, and some other that remained silent.
The figure of Máximo Kirchner has more and more prominence within the Frente de Todos
The worst performance of the consulting firm’s measurement was in the most populated urban districts. Máximo is known, but mostly they don’t want him. It has a very high rejection in the three most anti-K places in the country: 70.5% in the Autonomous City of Buenos Aires, 67.8% in Córdoba and 65.3% in Mendoza. Somewhat better in Santa Fe with -54.6% and Entre Ríos -46.4%.
Regarding the numbers of the positive image, Máximo also appears delayed in Jujuy with 21.1%, Río Negro 22.6% and Salta 24.2%. When compared to other figures from the Frente de Todos such as Alberto Fernández, Cristina Kirchner and Sergio Massa, Maximum in general is lower and clearly loses. However, there are some curious facts such as having a better image than his mother and Massa in Tierra del Fuego and Santa Cruz. Against the one who is relegated is with President Alberto Fernández. who continues to be the leader of the ruling party that measures the best in the entire country.
Washing hands, keeping your distance, putting on a mouth mask, the advice to keep corona out of the door, we are gradually familiar with. But what is much less attention is the humidity level in the house. Throw that up, scientists advise in the AD.
The virus thrives better in dry air and the air is much drier in winter. Bas van de Wiel, professor of atmospheric physics at TU Delft: “The colder it is outside, the drier the air gets inside.”
Virus particles that you exhale have a so-called water shell, which evaporates faster with dry air. The droplets then become smaller, so that they float longer and therefore become even smaller. They are easier to transfer and penetrate deeper into the lungs.
Humidifying the air in the home can therefore offer some protection against the corona virus. This effect is already recognized internationally. “Humidity levels of 40 to 60 percent can help to limit the spread and survival of the coronavirus indoors,” said the European Center for Disease Prevention and Control (ECDC), for example.
Only the Dutch RIVM, as before with the mouth masks, does not want to wear it. It continues to maintain that mainly large virus particles spread the virus and keeping a distance works best. While it is so easy to make the air more humid. “If we take this seriously, you might be able to print reproduction number R by 0.1 or 0.2.”
Graphs show that the Dutch air humidity and the incidence of infections go hand in hand. You also see that with flu waves. According to the two scientists, including Geert Keetels, meteorologist and flow expert at TU Delft, the usefulness of higher humidity has been fairly well demonstrated. Moreover, it falls into the category: simple to implement and every little bit helps.
You can measure whether the air in the house is too dry with a sensor costing a few euros. You will also notice it in, for example, a dry throat, dry skin or static hair. A humidifier is the easiest way to humidify the air in your home. Otherwise, plants also help, just like drying the laundry indoors, a bowl of water on the heater or set the thermostat a few degrees lower.
It is based on a formula created in 2005 by Cardiff University professor Cliff Arnal to launch a marketing campaign
Blue Monday, Known as the saddest day of the year, it is celebrated in 2021 on this January 18. It is based on a pseudo-mathematical formula without scientific basis created in 2005 by Cardiff University professor Cliff Arnal to launch a marketing campaign for a travel agency, by which it is determined that the third Monday in January is the saddest day of the year.
Arnall tried to find out through a mathematical calculation when there was a greater predisposition of consumers to book vacations. It was then that he ended up coming up with a formula that worked in the field of marketing and it stayed to be used by some brands and establishments.
The formula is:
This is the formula that determines that today is the saddest day of the year
Tt: Travel time
C:Time spent in cultural activities
R: Time spent relaxing
ZZ: Time spent sleeping
St: Time spent in a period of stress
P: Time taken to prepare a luggage
Pr: Time consumed in general preparation.
Other factors that place the saddest day of the year on the third Monday in January are the weather, the debt, the monthly salary, the time that has passed since Christmas, the time since the purposes of the New Year, the low motivation and the urgent need to act before this.
Is today the saddest day of the year? Know what “Blue Monday” is
In Anglo-Saxon culture, blue (blue) is more than just a color and is used to talk about sadnessHence, Professor Arnal borrowed it to designate this day.
However, the lack of scientific rigor of this formula led to the scientific community to pronounce itself to deny it. And not only the scientific community, Arnall himself, who defines himself in social networks as a psychologist, coach and happiness consultant, is also an activist of the #StopBlueMonday movement started in 2016 together with Tourism of the Canary Islands to banish with a myth expanded over the years.
No, it is not the saddest day of the year. Today you have seen or will see a lot of material talking about #BlueMonday and what a psychologist says. A case of perfect marketing strategy creating a hoax. It is a fallacy created by a travel agency where they name the psychologist Cliff Arnall pic.twitter.com/hDofM8Hj1c– Adrián Segura C. (@AdrianSeguraC) January 20, 2020
Despite having denied it, the concept of ‘Blue Monday’ It continues to be commemorated year after year, and continues to be very present on social networks, especially by some brands that take advantage of it to promote their products and services and encourage their consumption.
In addition to not acknowledging Cliff Arnall’s “discovery”, many psychologists take the opportunity to mention the importance of treating feelings of anguish and sadness, not letting them be, and expressing them in time. Some of the recommendations they make to the regarding are:
– Set goals simpler and possible to achieve.
– Avoid emotional isolation.
– Relativize when negative thoughts abound.
– Seek professional help in case you feel necessary.
The Justice demanded a decline in prices for subscription broadcasting services, internet access, fixed telephony and mobile communications
The pay TV operator Cablevision suffered an adverse ruling in relation to rate increases for its services, so it will have to roll back its prices to previous levels.
The Civil and Commercial Court No. 10 of Mar del Plata, headed by Judge Mariana Lucía Tonto de Bessone, admitted a caution Innovative against Cablevisión, by which it ordered that they roll back the value of their subscription broadcasting services, internet access, fixed telephony and mobile communications to the prices in force in December 2020.
In fact, the company may add a maximum of one 5% increase, which was authorized by the national government.
The magistrate explains, firstly, that “regarding the legal nature of the right whose safeguarding is sought through the action taken, it is noted that we are facing rights of collective incidence referring to homogeneous individual interests.”
On the other hand, it adds that whoever initiates the action “are entitled to defend the rights set forth here, the Ombudsman, the associations that concentrate collective interests and, where appropriate, the affected party.”
The ruling also refers to Resolution 1466/20 issued by ENACOM on December 21, when a rise of only 5% is enabled as of January. “However, due to administrative operations of some companies, which proceeded to issue invoices prior to what was established by resolution, they reported increases higher than those authorized by the regulatory body,” they indicated from the agency.
The magistrate decided to make room for the precautionary measure to roll back prices for services mentioned as of December 2020 (with the power of an increase not exceeding 5%) and order the registration of the action before the Public Registry of Collective Proceedings of the Supreme Court of Justice.
According to ENACOM, there are millions of users affected by increases made arbitrarily by telecommunications companies, when they should have waited for prior authorization from the Government.
New increases: definition days are coming
Next week it is possible that there will begin to be definitions on how the increases in the prices of telecommunications services will continue. After having authorized a 5% increase for fixed and mobile telephony, internet and pay television, the next step will be an analysis of each of the benefits and, even, of the situation of each of the industry players , made up of large players, such as Telecom, Claro and Telefónica, SMEs and cooperatives to evaluate increases in both cases.
So he could know iProfesional from senior sources involved in the negotiations that hinted that the scheme that will be followed may not repeat what happened with the authorized increase in January. However, at this point no one dares to give details because the conversations are more or less delicate and are loaded with more or less tension depending on the actor.
Businesses of all sizes agree that it is not possible to operate efficiently with such low price increases
The intervention of the Government in the prices of telecommunications services has exasperated the different players in the sector. As rarely, all agree on the damage caused by such a low increase authorized for January after a 2020 in which prices were frozen and costs rose above 30% between the increase in the dollar and inflation. This situation, they pointed out on various occasions, gThere are drawbacks in the economic equation of companies that, in this way, lose their reinvestment capacity.
This, in a context where, due to the restrictive situations generated by the pandemic –And in a scenario where there is already a noticeable outbreak of the contagion of covid– the telecommunications are the way to keep different activities operational through the connectivity and virtually. He telecommuting it is hardly an example of it. Virtualization and automation of business processes also require good connectivity to be efficient.
Before the increases allowed for January were known, some telecommunications operators had begun to inform part of their clients that in January the increases would be around 20% on average. In fact, many of those bills arrived at homes with those unauthorized increases.
Although the National Communications Entity (ENACOM), in charge of the negotiations related to these increases, established mechanisms to claim for many clients, it is more cumbersome to request a new one. billing They have to access the credit that is enabled for the next period and thus obtain a discount.
The objective of the different operators of telecommunications It consisted of achieving an adjustment in the prices of services that, if it was not possible to adjust by 20% in January, would advance in a gradual but already clear scheme at the end of 2020.
One of the ideas that was being handled in the sector was to access an increase of 8% or 9% in January, a slightly lower percentage in February, around 4% or 5%, and then another 8% or 9% in March as a way to reach that 20% or a little more in the first quarter and, thus, face the investments necessary to which companies will be forced because connectivity demands continue to grow in different parts of the country.
SMEs and cooperatives lit alerts for the survival of this segment
Hence the discomfort when it was confirmed that President Alberto Fernández would authorize an increase of only 5% for January, which reached 8% for the smallest providers. Some companies protested because it is not understood that, while fuels have been increasing steadily over the months with the impact it causes on the economy in general, there is not a similar view with telecommunications.
Until the last day of the year, the Government was issuing resolutions related to the telecommunications market. In one of them, the 1466, which endorsed this increase, established in its article 2 that “any particular claim to increase by a higher percentage those established in article 1 must be requested on an exceptional basis and duly founded through reliable documentation … ”
This text motivated that last December 30 the cooperatives nucleated in different chambers, such as CATEL, COLSECOR, FEDECOBA and FECOSUR, held a meeting with the Chief of Cabinet, Santiago Cafiero, to whom they exposed the “delicate” situation of the sector.
Prior to this, the Argentine Internet Chamber (CABASE) warned that the increases authorized in December “are a death sentence for the SMEs and cooperatives of the sector and constitute the product of the absolute ignorance that the Government has of the cost structure of these operators, as well as the reality in which the more than 1,200 SME and cooperative providers in our country operate “.
The pronouncements of the different sectors were harsh. Hence, the conversations that are taking place these days are crucial to find a common ground that allows companies to continue operating with health, that users continue to receive services with quality parameters in accordance with the growing connectivity needs and that, thus , friendlier business environments are promoted that allow investment. Investment decisions, both the smallest and the largest, are postponed.
Faced with forecasts of an increase in inflation, savers wonder if it is convenient to make a fixed term UVA, what are its risks and what will happen to the dollar
With the new year and the new projections of inflation, savers once again take the calculator out of their pockets and wonder if the interest rate what pay the Fixed deadlines go to win to price rise of Economy.
That is to say, precisely, the main question is if it is more convenient to carry out a fixed term adjusted for inflation or trying to buy Dollars.
It should be remembered that access to the official exchange market is quite limited by the stocks, which only allows you to buy up to u $ s200 per month to those savers who can justify their income. And the other channels have greater access difficulties for several Argentines.
Regarding the expectations of inflation, in the latest Market Expectations Survey (REM) carried out by the Central Bank, it is stipulated that the increase of prices for him 2021 would reach levels of almost 50%. So it would exceed by 14 percentage points the 36% that there was last year.
“This is based on a set of variables, as there will be no type of quarantine strict, consolidating the level of recovery in activity, with some sectors rebuilding margins“, alert to iProfesionalRoberto Geretto, chief economist at CMF wholesale bank.
It is also expected that both the official dollar Like the wages will not lag behind the inflation.
In addition, a higher inflation by monetary issue that there will be to finance the treasury, “where the primary deficit would be around 3.5%, below the 4.5% budgeted but also implying a considerable monetary issue,” Geretto graphs.
And, especially, unlike 2020, another of the alarms of economists is that this year starts with a degree of monetization in high levels.
“However, the market has somewhat slashed its projections for inflation, where there is greater consensus than certain heterodox measures, such as price agreements, frozen rates, among other variables, can help in the short term to reduce inflation “, projects Geretto.
Although alert that this will bring higher costs at long term, as, for example, that it will bring a fall in investments and quality of public services.
The forecasts of higher inflation for 2021, generate that savers look for a safeguard of their pesos so as not to lose out.
Fixed deadlines: what is the preferred alternative
Regarding how the placementsbanking in this sense, it should be remembered thata Traditional retail fixed term grants a 37% annual income.
“The rateof interest that provides, clearly, is located by below of the expectations of inflation“, advocated Geretto.
Is that for comparative purposes, a percentage of 37% annually implies level monthly about a 3.08% profit, a level that is very inferior at 3.2% inflation seen in November or almost the 4% in December past.
Therefore, a traditional fixed term offers a cost effectiveness what misses against price rise of the economy.
From the side of fixed terms UVA, which are those that adjust for the price increase index CER, there is a natural option placement which offers as a guarantee a coverage regarding inflation.
In this alternative it must be taken into account that the minimum period required to have the weights embedded in the bank is three months.
Specifically, if the rise in prices accelerates this year, as the trend of recent months showed, the fixed terms UVA would become the best alternative.
“Assuming that the 50% inflation scenario for 2021 is indicated by the REM, the return measured in TNA (Nominal Annual Rate) for the fixed term it would be 51,5%, much higher than the traditional fixed term (37%) “, recommends Geretto.
When calculating yields in pesos, Argentines also look at how much the price of the dollar moves.
Risks that arise
Now the expectancy of high inflation For all of 2021 it may not behave in a linear way, and it may only accelerate in certain months. Fact that can affect the performance of a placement that follows prices.
“A risk that we are usually consulted is what happens if in any month inflation is lower than the rate offered by a fixed term traditional. In that case, there is the option of fixed term pre-cancelable UVA, which finally pays the rate of a normal fixed term if it is withdrawn before 90 days of incorporation “, suggests Geretto as coverage.
Hence, the advice economists give is to go comparing month by month Which of the Fixed deadlines is winning the race between rates compared to the inflation.
Other risk to which savers may be exposed is in the case that intervene he INDEC, in the sense that for some other reason the organism stop measuring the inflation “correctly“.
“In that case, there is not only the option to pre-cancel the fixed term, but in the worst case only would be affected partially the interest payment, while capital would not suffer a (nominal) fall, as would happen in that scenario with CER bonds “, compares Geretto.
Finally, it highlights that unique “against” that cannot be counteracted is liquidity, since a pre-cancelable UVA fixed term requires that the immobilized capital at least for 90 days, so that it grants the UVA inflation plus 1% premium. Therefore, the latter is an instrument intended only for investors with that time horizon.
The dollar attracts savers as a store of value, but the exchange rate and its high price discourage their purchase.
Inflation or dollar?
Whenmakes the classic comparison as to whether it is better to invest in dollars o in a fixed term adjusted for inflation, the answer has its variations.
“In a intermediate baseline scenario, that is, where chaos is not projected where the dollar jumps, nor is there an excellent macro performance that makes the dollar lag due to a large demand for pesos, it is logical to assume that he dollar will follow the inflation“, resume Geretto.
In this case, it details that the fixed term adjusted for inflation would not lose value in Dollars, but, on the contrary, “it would be advisable to have a proportion of the portfolio invested in this instrument to obtain a real return in pesos and diversify the investment portfolio” .-
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Begun this Wednesday in Egypt, the handball world championships are little talked about. After beating the Norwegian favorites, France faced Austria at the end of the afternoon, in relative disinterest. Several reasons for this.
The daily L’Équipe, for example, did not send a journalist to cover the event. Due to the pandemic, the Egyptian organization is trying to maintain a health bubble around athletes. Access to this bubble costs between 200 and 350 euros per night, “An amount much higher than those usually charged in Egypt”, notes the newspaper’s website, the paper version of which has not been released for several days, following a strike.
For the moment, only RMC-BFM, AFP and beIn Sports have a special correspondent. Too bad for the other media which will have to follow the competition from afar. Access to journalists who are not in the ball is prohibited as pointed out in a press release entitled «No media at Egypt 2021». L‘Team justifies his choice not to participate by invoking “Extremely vague, not to say suspicious, payment procedures, in any case totally unusual for an event of this scale”.
Handball has never been a headliner in the media in France, but the decade of success for the French men’s team was clearly drawing interest upwards. A less certain sporting success today: the retirement of several major players and the historic coach Claude Onesta was felt on the results.
Read also : Michaël Guigou: “We are less afraid than in the past”
After elimination in the first round of the last European Championship, the Blues changed coaches. Exit Didier Dinart, replaced by his assistant Guillaume Gilles. The pandemic arriving on this the team is in the works as shown by the defeat and draw against Serbia last week. The first match of the French at the worlds, a victory against the Norwegians, third in the last euro, is promising. But the French must compose without their best player, Nikola Karabatic, injured in the knee.
Banks in the United States seek to add crypto fans by offering safer, faster and more interoperable services.
January started as a busy month. Different in the north country, convulsed by the political storms and expectant before the new government of the current president of U.S, Joe Biden.
In the midst of this context, Office of the Comptroller of the Currency (OCC) of the U.S decreed that financial institutions, such as banks and federal savings associations can manage stablecoin or stablecoins to make payments and other activities.
These are cryptocurrencies whose value is backed by other assets to keep their price unchanged. Which they tie their price to the US currency are colloquially called “digital dollars”, but there are others that are backed by the euro or gold. They are usually used in: profit taking, loans, international payments, payments to businesses.
The step for the cryptocurrencies to be regulated?
What are Stablecoin?
According to the official statement, financial institutions will be able to make use of the independent node verification networks or INVN, to store or validate payments. When trading with stable currencies the participating banks will face the challenge of finding how to move funds faster and more efficiently.
As part of the statement, Brian P. Brooks, Internal Currency Controller communicates that “while the governments of other countries created real-time payment systems, The United States trusted the innovation sector to offer technologies these transactions. Some are created and managed by banking consortiums and some are based on networks of node verificationindependent, as Blockchain“.
He also noted that it is a new era in relation to stablecoins based on financial infrastructure. “Our statement removes legal uncertainties on banks’ authority to connect blockchain as validator nodes and in this way you can trade stable coins from customers who are increasing their demand for a service: fast, efficient, interoperable and low cost, associated with this type of product “, indicates Brooks.
While it is tailored to encourage the use of stablecoins, it is not the first to take the OCC, which in the middle of last year granted to banks authorized by the National Government custody of cryptocurrencies.
The measure was based on the financial institutions can take advantage of technological advances and new forms of innovation to provide services to its users.
“From security boxes even virtual vaults we must ensure that banks can meet your clients’ financial services needs today, “Brooks says.
Although he remarks that the custody of crypto assets It will depend on the access you have to the keys to the cryptocurrency wallets. Thus, it highlights that “a custody service of keys is a functional equivalent to physical custody“.
Guillermo Navarro, founding partner of Bildenex Lawyers, affirms to iProUP that every time there is one approval from the official point of view, in any country, from Bitcoin or stablecoins, it means that the banking systems are taking it as one more variant.
“They will surely apply the same parameters as any other fiat currency, that for some people can be good because they can operate more freely. But for those who believe that the objective of crypto is to keep anonymous it will be counterproductive. This type of announcement is always auspicious, because it will have effects on the rise in the price“Navarro confides.
Although the lawyer believes that at the local level, it is still necessary for it to be internalized.
“When an exchange system is approved, the specified verification networks. All of this is promising because it comes hand in hand with standardization and demands compliance. In Argentina, banks are still very elusive why comply with specific Central Bank regulations for the purchase and sale of crypto. They even suspended people’s accounts for not being able to credit funds, “he reveals.
For his part, the economist Ignacio Carballo, dDirector of Fintech Ecosystem and Digital Banking of the UCA, comments the iProUP what the news is good for everyone crypto, since it institutes the phenomenon.
“However, we have to take into account of contexts not minors. The first is that of the transition of the United States, with the volatility that this implies. The other is the rise of the crypto world in astronomical values. In that sense it is progress but we will have to see what happens over time. But I see absolutely distant that Argentine banks are thinking about this, “he concludes.
In investment banks, inquiries about the country fell to zero. Nobody is interested in bonds or the Argentine economy. Why so much disinterest
In the middle of “financial summer“with the dollar that lives central bank, Argentine debt bonds remain in “pariah” mode. No matter what prices they have fallen to, nobody wants to touch titles issued by the country. Neither returns around 16% per year in dollars attract.
In the Government they believe that an agreement with the International Monetary Fund (IMF) could serve to give oxygen to the battered bonds, but many believe that – again – the market will run the bow. In other words, after a program with the IMF, little and nothing would change. A revival of what happened after the debt restructuring. Condemned to success?
For now, bonds are completely off the radar of foreign investors. “Argentina disappeared from the map. Before it occupied 70% of my time and now 5%. I had some questions about the YPF case, but the lack of action on the part of the Government in showing a plan, agreeing with the Fund and in general its policies, means that little and nothing happens. There is nothing that can attract foreign investors. This is reflected in the price of the bonds, “the head of trading at an international bank operating in New York told iProfesional.
For foreign investment banks, the country is not relevant and there are no drivers that generate trust.
Total disinterest and bleak outlook
He risk country it continues to rise and is around 1,450 basis points. Argentina would pay an exorbitant rate to borrow if it had to. The cost of borrowing has risen almost 400 points since it came out of default. And comparable countries have country risk levels of 250 or 150 units. The country is leaving the train gifted financing in the world through sheer inexperience.
“The bonds are nailed there, they have not moved, they have not continued with the external humor that was seen in other countries in the region. There is zero visibility forward, so there is no interest,” added the Wall Street bank .
Some believe that the bond slide could be nearing its end simply because of a price issue. “But isn’t the punishment for the bonds exaggerated? By charging very low coupons in the Fernández era and assuming a restructuring in December 2023 in the 2001 style (it takes away 65%), at these prices you earn up to 5% per year in dollars”says the 1816 consultant.
Some banks had come out last year to recommend Argentine securities just because they were “free.” The bet went wrong and they never recovered. The “marginal” buyers do not appear at these values of the titles and that is what worries more.
“They are on the list of untouchables. Precisely because there is no value behind them. They do not pay appreciable coupons or have a history (as it would be in the case of a credible government or economic plan). There is no reason to buy Argentine bonds, “said another foreign banker, who boasts of having recommended selling the minute after his clients received the new ones issued by Martín Guzmán.
Some believe that the government could delay an agreement with the IMF not to accept “unpopular” requests.
Doubts about an agreement with the Monetary Fund?
Even a deal with the IMF does not excite Wall Street banks. The delay in showing “something” and the doubts about whether the program will finally be “washed” and without clearing too much the panorama forward, generate doubts.
In fact, some speculate the deal could be delayed. Delphos Investment He says that the biggest obstacle for the government during the current year is to close an agreement with the IMF that adjusts to its political and ideological conditions. “With the potential gift of a more valuable coarse crop (the quantities remain to be seen), the more political faction of the government could be tempted to defer the deal with the IMF until after the elections, so that they can move without restrictions during the election. current year electoral year “, they point out.
“For now, there is no great rush in the Government to agree with the global financial entity, leading to increased suspicions of procrastination. It would not be good news for the financial assets of our country, especially for bonds denominated in dollars “, recognizes Delphos.
Be that as it may, the country is off the radar of investors and there would not be much incentive to return. Some even believe that the financial ostracism for Argentina will continue the 3 years that Alberto Fernández has in power. It will be seen. For now, nobody talks about Argentina.
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