Overview

• J.P. Morgan’s EMBI for Argentina has contracted by roughly 600 basis points from recent peaks near 1,450, with current readings cited around 900–1,018 as bonds rally across the curve.
• Coverage describes a prospective U.S. package including a swap of about $20 billion, a first tranche after elections to cover a $4 billion January maturity, and potential sovereign bond purchases and credit lines.
• The peso strengthened with the dollar trading below approximately ARS 1,400, while shorter‑dated sovereigns led gains as prices climbed across maturities.
• Strategists caution that the rebound rests on expectations rather than repaired fundamentals, with election uncertainty and reserve and liquidity concerns keeping risk elevated.
• Advisers favor dollarized, lower‑volatility holdings such as corporate bonds, obligations negociables, Bopreales and Cedears, with some research desks highlighting selective opportunities in specific sovereign bonds.