Overview
- The Treasury will auction the Bonar 2029N on Wednesday under local law seeking about US$1 billion to help meet near-term obligations, including January external payments reported above US$4.2 billion.
- Economy Minister Luis Caputo is targeting a 9% yield on the new bond, while current market pricing suggests a higher effective yield near roughly 10–11%.
- Argentine assets fell ahead of the sale, with the S&P Merval down about 2% and sovereign bonds weaker, pushing the risk premium to roughly 634 basis points.
- Currency gauges were relatively stable: the official retail dollar hovered near ARS 1,465, the blue traded around ARS 1,445, the MEP near ARS 1,468–1,470, and the CCL close to ARS 1,503.
- Gross international reserves stood below US$42 billion at about US$41.739 billion, while the government also readies a rollover of roughly ARS 13 trillion in peso debt via fixed-rate, dollar-linked, CER and TAMAR instruments.