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Emerging MarketsEM LatAm

Argentina rallies on Paris Club hopes as PBA inches closer to agreement

Pope, Catholic, Argentina, Alberto Fernandez, President, Paris Club, IMF, LatAm, 575

Argentine sovereign bonds rallied for a third consecutive day on Tuesday amid expectations that the Paris Club group of official creditors will show leniency over a looming $2.4bn payment. But some in the market saw more value in the country's provincial bonds, and the Province of Buenos Aires hinted after the close that it is edging closer to agreement with its bondholders after more than a year in default.

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