Argentina country risk rises to two-month high

country risk sovereign bonds S&P Merval exchange rate interest rates

Argentina's country risk index, measured by JP Morgan, rose significantly to reach levels between 463 and 465 basis points, marking its highest point in approximately two months. This increase was driven primarily by a decline in sovereign debt bonds, including Global bonds, which saw drops of up to 0.9%.

Despite the rise in country risk, the local stock market (S&P Merval) showed resilience, closing with gains of approximately 1.1%. In the New York market, Argentine stocks also performed well, with notable increases in YPF, Globant, and Telecom Argentina, even as major Wall Street indices trended downward.

In the foreign exchange market, the official wholesale dollar remained near the $1,500 mark, with the government maintaining a ceiling to mitigate pressure. This intervention has influenced interest rates, with short-term rates like the 1-day caución reaching a 30% nominal annual rate as the government seeks to manage liquidity and defend the exchange rate.

Entities

Argentina · Banco Central de la República Argentina · INDEC · JP Morgan · Javier Milei · Luis Caputo · S&P Merval · Wall Street · YPF

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] The S&P Merval index rose by 1.1%. vilmetal.com.ar · titulares.ar · fm899.com.ar · www.eldia.com
[● 6 SOURCES] YPF shares rose between 2.5% and 3.7% depending on the exchange. noticias.uai.edu.ar · vilmetal.com.ar · titulares.ar · noticiasargentinas.com · fm899.com.ar · +1 more
[DISPUTED] The country risk index reached 463-465 basis points. noticias.uai.edu.ar · vilmetal.com.ar · titulares.ar · noticiasargentinas.com · fm899.com.ar · +2 more
[● 2 SOURCES] Argentine bonds corrected as the market returned to looking at local fundamentals. titulares.ar · fm899.com.ar
[● 3 SOURCES] The retail official dollar remained stable at 1,520 pesos. vilmetal.com.ar · fm899.com.ar · www.eldia.com
[○ 1 SOURCE] The government set a ceiling for the official wholesale dollar at $1,500. titulares.ar
[● 2 SOURCES] Brent crude futures rose approximately 2.7% to 3.55%. noticias.uai.edu.ar · noticiasargentinas.com
[● 4 SOURCES] Sovereign bonds, including Globales, fell by up to 0.9%. vilmetal.com.ar · titulares.ar · fm899.com.ar · www.eldia.com