Argentina’s Peso Slides, Bonds Jump After FX Rules Lifted

Argentina’s sovereign debt climbed while the peso slipped after the country lifted most of its currency-market restrictions as part of its new $20 billion program with the International Monetary Fund.

The official peso ended the day about 11% lower at 1,195 per dollar Monday in Buenos Aires. Sovereign bonds were among the best performing in emerging markets, with yields on benchmark notes due 2035 dropping to around 11.5%, according to pricing data compiled by Bloomberg.