Argentina’s Bond Selloff Blindsides Bulls as Election Fears Grow

Bonds Argentina’s Bond Selloff Blindsides Bulls as Election Fears Grow A rout in Argentina’s bonds has taken bullish investors by surprise, as a global emerging markets pullback compounds concerns over President Javier Milei’s reelection prospects and the country’s ability to meet billions in upcoming debt payments. Argentina’s sovereign dollar bonds have been the worst performers across emerging markets over the past two months, with a relentless selloff pushing yields to nearly 12% earlier this week and spreads to their highest level in more than a year. The losses have accelerated despite calls from asset managers including Vontobel, Carmignac, Schroders and ProMeritum Investment Management, who have said the debt is too cheap too ignore.