Argentina 100-Year Bond Rally Advances on IMF Optimism
- Bonds fall below 9 percent for first time since Aug. 1
- Investors await news of favorable revisions to IMF deal
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The rally in Argentina’s 100-year bonds has taken yields below the 9 percent threshold for the first time since Aug. 1 amid bets the International Monetary Fund will expand its credit line.
After a rout in August, overseas debt from Argentina has returned 8.9 percent this month, joining a rally in emerging-market assets to post the second-best performance among peers. The IMF is working with a “sense of urgency” to help the country restore confidence, a spokesman said Thursday. Clarin newspaper reported that day that Argentina was seeking to expand its credit line with the lender to as much as $70 billion from $50 billion.