Argentine Bonds Rally After Paris Club Sets Date for Debt Talks
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Argentine bonds jumped today for the first time this week after the Paris Club of creditor nations invited the South American country to begin formal negotiations in May to settle its outstanding debt.
The price on the notes rose 0.53 cent on the dollar to 95.43 cents at 11:30 a.m. in Buenos Aires, according to data compiled by Bloomberg. The extra yield investors demand to own Argentine bonds over U.S. Treasuries narrowed 23 basis points to 902 basis points, the biggest decline in emerging markets, according to JPMorgan Chase & Co.’s EMBIG index.