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Argentina Bonds Drop as Market Flags Intervention in Peso Debt

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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.
Argentina (LOCATION) Peso Debt Argentina’s (LOCATION) Treasury (ORG)
Originally published by Bloomberg Markets Read original →