Overview
- JP Morgan's sovereign risk gauge touched 621 points, the lowest since January, as hard‑currency bonds advanced and local volumes thinned by a banking holiday.
- The official dollar was quoted at 1,475 pesos at Banco Nación, with the wholesale rate near 1,447.5 and still below the upper band, preserving room for potential reserve buying.
- The Treasury renewed 111.17% of maturities, raising 8.50 trillion pesos and extending terms with lower rates in the first auction under Finance Secretary Alejandro Lew.
- Equities retreated as the S&P Merval fell roughly 2.4% by the close, contrasting with firmer sovereign debt, while analysts watched for Treasury or BCRA dollar purchases to rebuild reserves.
- Regional sentiment was shaped by 153,074 announced U.S. job cuts in October and a steady Mexican peso near 18.59 per dollar as markets awaited a likely 25‑bp Banxico rate cut.