Argentine Bonds Rally as Government Fesses Up to Inflation Surge
This article is for subscribers only.
Argentine bonds rallied the most in emerging markets after the government unveiled a new inflation index that marks the most concrete sign it’s ready to move away from policies that have alienated investors for a decade.
Yields on government dollar bonds due 2017 sold under local law tumbled 1.55 percentage point to 14.5 percent at 3:44 p.m. in Buenos Aires, the biggest drop in more than 11 months. The price on the notes rose 3.33 cents to 83.84 cents on the dollar. Inflation-linked bonds surged the most on record.