Bonds Rally on Kirchner Shock

Bonds Rally on Kirchner Shock

Argentina Bonds

Argentine bonds and CDS rallied Wednesday following the surprise death of ex-president Nestor Kirchner. Markets appear to treat the news as increasing the likelihood of regime change. Argentine USD discount bonds popped up more than 4 points, to finish at 92.5-94.5, according to traders. USD par bonds were up 2 points, to 45.4-46.2, while 5-year CDS tightened 35bp. Local markets were closed in Argentina for Census Day. Analysts are focused on 2 possibilities. Either sympathy votes strengthen Cri

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial