Argentine bonds continued to trade in very negative territory, with IRRs around 16% in the short end of the curve and showing an inverted slope. The context of a loss in confidence, added to BCRA' bond sales in the secondary market with the aim of narrowing the exchange gap continued to negatively impact the dollar curve. We believe that, to maintain a sustainable path of low country risk, the government will need to undertake structural reforms and direct fiscal and monetary policies.
Reporte
Fixed Income Weekly