Argentine Peso Risks 'Disorder' If Rollover Fails, JPMorgan Says
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The Argentine peso may face “disorder” next week if the nation’s central bank struggles to roll over about $30 billion of short-term notes set to expire, JPMorgan Chase & Co. said.
The central bank is scheduled to auction notes known as Lebacs on Tuesday, in order to roll over about 674 billion pesos of securities that mature Wednesday. The yield on Lebacs due June jumped to 43.6 percent in the secondary market today, forcing the central bank to intervene in secondary markets.