Overview

• Argentina’s country risk premium remained perched above 700 basis points following the government’s payment of $4.3 billion in bond coupons.
• ADR issues on Wall Street fell sharply with energy and industrial names leading losses—Edenor down 6 percent, Pampa Energía off 5.6 percent and Loma Negra slipping 4.8 percent.
• Global sovereign bonds posted technical rebounds even as yields lingered between 10.6 percent and 11.3 percent, signaling persistent funding costs.
• U.S. benchmarks rallied with the Dow Jones up 0.5 percent, Nasdaq up 0.9 percent and S&P 500 up 0.6 percent, fueled by Nvidia’s climb to a $4 trillion valuation.
• Treasury yields retreated to around 4.34 percent after Fed minutes indicated officials expect rate cuts later this year and traders largely brushed off new tariff letters from President Trump.