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.
