Europe backs Macri as Argentina goes long in euros

Argentina, Mauricio Macri
By Oliver West
02 Nov 2017

Argentina this week jumped on momentum driven by the government’s impressive recent election performance to attract €11.5bn of orders for a triple tranche euro denominated bond — including a 30 year note that is rarely seen in the currency from EM borrowers. Oliver West reports.

Some investors fret about the amount of debt the sovereign is issuing, and research houses such as Capital Economics worry that investors are ignoring weaknesses in the government’s balance sheet. But bond markets are willing to back president Mauricio Macri’s gradual adjustment of the Argentine economy — especially ...

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