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Argentina Bonds Climb as President Promises Plan After Vote

  • Bonds gain as leftist coalition looks loses control of Senate
  • Fernandez promises to work with opposition toward an IMF deal
Updated on

Argentina’s bonds gained Monday after voters rejected the government’s handling of the economy in midterm elections and President Alberto Fernandez promised to cooperate with opposition lawmakers on a new agenda.

The nation’s $20.5 billion in dollar-denominated bonds due in 2035 rose as much as 1 cent to about 31.2 cents on the dollar, their biggest gain since the aftermath of primary elections held Sept. 12. U.S.-traded shares of Argentine companies fell around 1.8%, as of 3:10 p.m. in New York, according to a S&P and Bank of New York Mellon index of ADRs.