Argentina’s Wild Week Ends With Investors Bracing for More
- Bonds set to end week at two-month low after primary vote
- Parallel peso still in free fall after government devaluation
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The week that saw Argentina bonds selloff and the peso devalue by nearly 20% is coming to an end with investors already bracing for more losses in the aftermath of outsider candidate Javier Milei’s win in presidential primaries.
Notes tumbled and the peso was devalued Monday after Milei unexpectedly won 30% of the vote, with debt continuing its selloff through the week. Bonds due 2030, among the nation’s most liquid, slumped almost four cents this week to around 32 cents on the dollar, hitting a two-month low on Wednesday before edging back up.