Argentine Assets Extend Selloff After Vote Surprise Roils Markets

Debt due in 2030 continues falling in Tuesday morning trading
ETF, bonds see outsized trading volume in aftermath of primary

To cope with the pressure of the market fallout, the government — which has drained reserves to defend the currency — devalued the official foreign exchange rate by 18%.
Photographer: Erica Canepa/Bloomberg

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By Carolina Wilson

August 15, 2023 at 2:25 PM UTC

This article is for subscribers only.

Argentine assets extended losses as strong support for outsider Javier Milei in a weekend primary vote reverberates through markets.

Bonds due in 2030 fell as much as 1 cent to 31.8 cents on the dollar in New York trading. Notes due 2035 and 2046, some of the country’s most liquid, also dropped.