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2026-11-06 00:54:31
[Argentine sovereign dollar bonds maturing in 2035 hit a one-year low after US election] Argentine sovereign dollar bonds fell across the board, influenced by global market risk aversion, with some bonds dropping more than 1.5 cents per dollar face value. Bonds maturing in 2030 and 2035 fell nearly 2 cents per dollar face value. Bonds maturing in 2035, serving as a benchmark for Argentine sovereign risk, fell to 63.25 cents per dollar face value, a multi-year low. The sovereign-to-credit spread for Argentine bonds has now exceeded 900 basis points. Analysts pointed to concerns about the future of the US-funded Exchange Stabilization Fund (ESF), used to help defend the peso. Analysts at local brokerage Allaria wrote in a report: "Global bonds have been impacted by the US election results. While the election results are interpreted as a possible de-escalation of the war, the higher anticipated risk of losing access to ESF funding has put further downward pressure on the Argentine yield curve."
