Argentina country risk hits monthly low amid mixed market performance

Argentine financial markets showed mixed signals on Friday, September 11. The S&P Merval index fell 0.4% to 3,146,266 points, and Argentine stocks listed on Wall Street also saw several declines. However, sovereign bonds denominated in dollars experienced gains, and the country risk indicator, measured by J.P. Morgan, dropped to 482-486 basis points, marking its lowest level in a month.

In the foreign exchange market, the official retail dollar remained stable at $1,535 at Banco Nación, while the wholesale rate was positioned at $1,512. Investors are currently processing August inflation data, which showed a monthly rate of 1.7%—the lowest in 14 months, though still above government expectations.

On Wall Street, market reactions were influenced by U.S. inflation data. Meanwhile, the Argentine government is focused on a Treasury debt auction to renew maturities totaling approximately $8.1 trillion, primarily involving capitalizable letters and dual bonds.