Overview
- The J.P. Morgan sovereign risk index reached about 629 basis points after a string of daily increases on Friday, following a rise of more than 50% over the past 90 days.
- Higher U.S. 10‑year yields have driven the move by lifting global discount rates and reducing demand for emerging‑market debt.
- The Central Bank stepped up dollar purchases to roughly USD 914 million in October, including USD 182 million on one day, while the Finance Secretariat rolled 136% of ARS 4.85 trillion in peso maturities to absorb liquidity.
- Market prices show stress: Global (New York‑law) bonds traded mostly lower, domestically‑lawed Bonares fell more sharply, and equities were mixed with many ADRs down.
- A Bank of America survey recorded improved sentiment with 41% of fund managers expecting gains, yet investor doubts about the government’s 2027 financing plan and the election calendar leave Argentine borrowing costs at risk of staying elevated.