Argentine bonds showed some recovery during the last week, after a more "orthodox" turn by the government. In this sense, the commitment to reduce the monetization of the deficit via monetary issuance and the successful placements of bonds contributed to take pressure off the ‘blue chip swap’ market, mitigating uncertainty momentarily. The international scenario also helped, both due to the US elections and the positive news about the Covid vaccine that produced a “risk on” effect and contributed to the positive performance of emerging markets in general.
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Fixed Income Weekly