The JPMorgan EMBI+ index for Argentina, referred to as “country risk,” has been on an upward trajectory in recent weeks, driven by uncertainty related to the upcoming elections, recent economic indicators, and a decline in reserve acquisitions by the Central Bank. Renewed volatility in United States Treasury bonds over the last week – which sent … Read more
As Javier Milei’s administration endeavours to maintain its fiscal surplus and bolster Central Bank reserves to enhance its position in international debt markets, a new challenge has arisen from abroad in recent days: the United States itself. The speech delivered by Federal Reserve Chair Kevin Warsh on Friday at the Jackson Hole conference caused markets … Read more
Global financial volatility — particularly the fluctuations in the U.S. Treasury market, a key indicator of the global economy — poses a significant threat to one of the Argentine government’s primary objectives: re-entering international debt markets. “The current level of long-term U.S. bond yields is significant as it signifies a transition in the global cost … Read more
As President Javier Milei engages with investors in New York to generate interest in Argentina’s resurgence, the progress surrounding the country’s bonds has significantly slowed. Despite the achievements – his administration has managed inflation, is restoring Central Bank reserves, and easing currency controls; it has also sanctioned a long-anticipated labor reform – Argentina’s bond spreads … Read more
