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Argentine Stocks, Bonds Rise on Bets Judge Will Grant New Stay

Argentine bonds rose for the first time this week, while stocks rallied on speculation holders of the country’s defaulted debt demanding compensation in U.S. courts will support a delay of a ruling blocking payments on restructured notes.

Argentina’s dollar bonds due 2033 rose 1.1 cent to 89.59 cents on the dollar at 6 p.m. in Buenos Aires, according to data compiled by Bloomberg. The yield fell 0.15 percentage point to 9.63 percent. The country’s benchmark Merval stock index rallied 3.8 percent. A June 30 coupon payment of $539 million for the notes was blocked by U.S. courts and is being held at a Bank of New York Mellon Corp. account at the Argentine central bank.