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Just 99 Years to Go as Argentine Century Bond Hits Record

  • Security sold a year ago hits 9.31 percent yield despite IMF
  • Consensus is it will surpass 10 percent on global pressure
Updated on

Argentina’s debut century bond is celebrating its first anniversary with record-high yields as a slump in the peso threatens to push the economy into recession. Still, just another 99 years to go.

The government sold $2.75 billion of 100-year bonds in June of last year, trumpeting that the arrival of President Mauricio Macri’s administration had put the serial defaulter in a new era of financial certainty.