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Argentina's Sovereign Risk Falls to One‑Month Low as Markets Ease

Lower U.S. inflation and oil prices, a successful peso debt rollover, and a slowdown in central‑bank reserve purchases eased investor pressure on Argentine assets.

Overview

  • The JP Morgan risk‑country indicator fell to roughly 482–486 basis points, the lowest level in about four weeks, on Friday as global and domestic moves improved sentiment.
  • U.S. consumer‑price data for August showed a 0.4% monthly gain and 3.4% year‑on‑year inflation, while oil prices dropped about 2.5–3%, both helping lift risk appetite on global markets.
  • Argentina's Treasury adjudicated about $8.41 billones in peso debt against roughly $8.13 billones maturing, achieving a 103.46% rollover and securing roughly $281,000 million in net pesos.
  • The official wholesale dollar fell to $1,508.50, parallel and financial rates showed modest dispersion (blue ≈ $1,545; MEP ≈ $1,534–1,538; CCL ≈ $1,596–1,604), and the central bank bought only US$5 million that session and US$42 million for the week.
  • Local stocks and many bonds ended weaker despite the risk easing, and markets remain vulnerable to the Federal Reserve's decision and renewed commodity or geopolitical shocks that could quickly reverse the improvement.