*ADCAP SECURITIES JUNE 06 CLOSING COMMENTS:* • Today was a very quiet day—typical summer Friday in the US. The headlines about Trump and Elon Musk took a bit of a pause, and overall the market had less volatility, at least abroad. Today we got the non-farm payrolls report. Markets had been pricing in two rate cuts starting in September, which had triggered a significant rally. After today’s data—I'll, the 30-year yield bounced closer to 5% and the 10-year by reached 4.50%. • Argentine bonds traded slightly higher today from yesterday’s very low closing levels. The ARGENT 2030 traded in a $77.75 to $78 range, the ARGENT 2046 around $64.50, and the 2035 hovered near $66.50. • Provincial bonds were flat. BUENOS 6.625s ended around $71–$71.5. • The New Bonte 2030 had another firm day rising 1.4% with strong volume. • As for Bopreas, the 27 1C and 1D finished a bit firmer, with mid-market levels around $95 for both legs. • Very little activity in corporates. The new Vista bond ended slightly above reoffer, around $100.125. • The Fx remained stable around ARS 1200. • As for stocks, the Merval in USD rose 1.93%, closing at $1,808. After several volatile sessions, the local market showed signs of stabilization, with strong performance from energy and utility names helping lift the index. The rebound was broad-based, suggesting a potential short-term bottom may be forming in some of the more beaten-down sectors. ADR performance was mostly positive, led by EDN (+3.8%), GPRK (+3.6%), and BBAR (+3.3%). Energy stocks like VISTA (+2.9%) and TGS (+2.1%) also gained ground, alongside steady moves in financials such as SUPV (+2.2%) and GGAL (+1.7%). YPF (+1.2%) announced a landmark agreement with Italy’s Eni to jointly develop Argentina’s liquified natural gas (LNG) export project. Signed in Rome with Presidents Milei and Meloni present, the deal grants YPF a 25% stake in a venture targeting exports of 12 million tons of LNG annually from 2028, with projected revenues of USD 6 billion per year. The plan, part of the Argentina LNG initiative, includes two floating liquefaction units in Río Negro province and aims to help the country reach USD 30 billion in energy exports by 2031. • For peso bonds, it was a positive day, with inflation-linked and fixed-rate bonds up an average of 0.2%, and dollar-linked bonds down an average of 0.2%. • ⁠Dollars closed the week quiet. Dollar futures ended with slight declines of 0.2% across the curve, while the official dollar remained unchanged. Financial dollars showed similar behavior, with no variation compared to the previous session. • ⁠Peso bonds generally posted increases, both in the fixed-rate and CER curves, supported by sustained demand throughout the trading session in both segments. Within the fixed-rate curve, the BONTE 2030, as mentioned, stood out in terms of performance, rising 1.4%. On the other hand, dollar-linked bonds ended the day with declines, in line with the movement of the FX.