Business & Finance
Argentina Bonds Drop as Market Flags Intervention in Peso Debt
Key Points
Bonds Argentina Bonds Drop as Market Flags Intervention in Peso Debt Argentina’s sovereign peso bonds fell Thursday after a surge in trading and prices the day before raised speculation that the government was intervening to push down borrowing costs ahead of key Treasury auctions. A jump in demand for local bonds Wednesday afternoon led notes due in 2029 and 2030 to rally more than 4%, reversing declines earlier in the day. Trading volume climbed to more than 3 trillion pesos, roughly three...
Bonds
Argentina Bonds Drop as Market Flags Intervention in Peso Debt
Argentina’s sovereign peso bonds fell Thursday after a surge in trading and prices the day before raised speculation that the government was intervening to push down borrowing costs ahead of key Treasury auctions.
A jump in demand for local bonds Wednesday afternoon led notes due in 2029 and 2030 to rally more than 4%, reversing declines earlier in the day. Trading volume climbed to more than 3 trillion pesos, roughly three times the usual level. The bonds resumed their decline Thursday, dropping as much as 1.5% before paring the losses again.