DICP
📈 The current mix of rising inflation expectations alongside positive market sentiment (falling risk premium) creates a favorable backdrop for CER (inflation-linked) bonds.
⭐ The DCP bond is highlighted as a preferred choice for holding within the CER space due to its historically attractive yield relative to peers like PARP, CUAP, and TX28.
💡 While other CER bonds like TX26/TX28 are used for trading, and bullet bonds like TZX28 have specific niche uses (e.g., bank fee waivers), DCP stands out for its general hold appeal.
@ClaveBursatilTV:
“In this case, you have bonds rising, rising, and inflation rising. So it’s good because for the CER bond, it’s good. It’s good for the CER bond. And another thing, Tincho, going back to the letters topic, it seems to me that it also justifies the inverted curve in letters in the short term. The inflationary rebound makes one demand a little more yield from the letters, that’s why you had the inverted curve, right? But well, let’s talk about… Ah, look, Nico Mesa is in the comments… Nico sends you a… he made me laugh because a person asked Nico on Instagram, whom I follow, to build him an investment portfolio through Instagram comments. No, well, the truth is Nico has terrible patience. Nico, I send you a hug. How I laughed that day. Well, my favorite CER, you know which one it is? It’s the DCP, without a doubt. Eh, there’s no doubt that the DCP is my favorite. Eh, I’ve been maintaining it for quite some time, and I’ve been buying DCP… I don’t know how long we’ve been sending alerts almost every day for the DCP. Eh, I really see it as attractive. Eh, I send a hug to Morticia del Merval, who is on Twitter, who has her entire portfolio in DCP, all of it. And I know she watches us, and I know she follows the channel on Twitter, I think that was it. She always posts her portfolio; she has everything in DCP. I don’t go to that extreme, but I like the DCP quite a bit for holding. The reality is that I can’t have everything in DCP, or everything I’d like, because I need to have TX26, 28, which is what… the reality is that’s what I use for trading. But for holding, the DCP, eh, seems like one of the best options to me. Today it compressed yield quite a bit compared to the others, but it’s still good. The DIPO is practically the same bond, but the DCP should be yielding the same as the TX28. Generally, they go hand in hand. The TX28 perhaps yields 0.5 points less. But if I compare the DCP with the Parp and the Cuap, in a normal curve, the DCP should be 1.5 points lower in yield, and it yields the same. Until two or three days ago, the DCP yielded 11, and these were at similar yields, yes, nine or even a little less, almost nine round. I like the DCP. The TX26 for holding, really, I think it’s not worth much. I would prefer another one like the DCP. Yes, yes, yes, yes, yes, I prefer the DCP.”
Watch the exact part of the video where @ClaveBursatilTV talks about Argentina Discount Bond (Peso CER-linked) here:
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