Argentina country risk falls below 500 basis points

Argentina's country risk has fallen below the 500 basis point threshold, marking its lowest level since August 17. This decline was supported by a report from Citi, which suggested that markets may be overestimating political risks regarding future elections. The report noted that macroeconomic fundamentals remain stable and that investors are exercising excessive caution.

In the local markets, sovereign dollar-denominated bonds saw average gains of approximately 0.2%, while the S&P Merval index rose 0.3% in pesos to reach 3,060,000 points. In Wall Street trading, Argentine ADRs showed positive movement, led by Telecom Argentina and IRSA.