Investors are no longer betting Argentina is heading inevitably to default as President Javier Milei wins over bond markets with his plans to remake South America’s second-largest economy.The extra-yield investors demand to hold Argentine paper over similarly dated US Treasury yields closed below 10 percentage points, a level that traditionally signals distress, according to data from JPMorgan Chase & Co. The spread is at its lowest levels since August 2019, when former president Mauricio Macri was in office.
October 28, 2024
SOURCE: BUENOS AIRES TIMES
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Argentine debt rises out of distress territory on Milei reforms