Argentina's Country Risk Hits an Eight-Year Low as Rating Upgrades Lift Dollar Bonds
3 Articles
3 Articles
Argentina's country risk hits an eight-year low as rating upgrades lift dollar bonds
Argentina's country risk closed this week at 421 basis points, its lowest level in eight years, amid a strong recovery in dollar-denominated sovereign bonds driven by recent improvements in the country's credit rating. The indicator, compiled by the bank JP Morgan, reflects the premium Argentina must pay to borrow in dollars over US debt, considered risk-free.
The Argentine assets had a positive turn in the debt segment, as opposed to the behavior of the local shares and Wall Street. The sovereign bonds in dollars maintained the upward trend and allowed a new decrease in the country risk, which was just above the 420-point floor reached on June 22. In the stock market, the result was different. The S&P Merval index of the Buenos Aires Stock Exchange fell 1.5%, to 3,121,855 points, conditioned by the n…
The indicator developed by JP Morgan extended its downward streak in this Wednesday’s financial day. In a scenario marked by the economic expectations of the second half of the year, the key index for international investors narrowed its gap with respect to the performance of US Treasury bonds. Read more
Coverage Details
Bias Distribution
- 100% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
