Argentina bonds, peso hit by political risk

The risk of a Cristina Fernández de Kirchner winning the presidential election in Argentina has spooked investors, causing the currency to sell off and bond prices to slump. But the weakening economy is bolstering support for president Mauricio Macri’s rivals, causing what investors are calling a “toxic feedback loop”.

  • By Lewis McLellan
  • 02 May 2019
The currency weakened from Ps42.7 to the dollar to Ps45.9 to the dollar during April, and the nation’s bonds have fared little better. Althea Spinozzi, emerging markets fixed income investor at Saxo Bank, said: “Investors like to monitor the 2117 and 2021 bonds. Both bonds have been tumbling. ...

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