DEVALUATION FEARS Investors bet on 44% peso devaluation after Milei’s debut 06-12-2023 15:05 Investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration.
MARKETS Argentina's stock market react with optimism to Milei election 21-11-2023 16:58 Stock market opens up by around 20% before easing off to gains of about 14% – strong reaction to election of new president-elect.
ECONOMIC INSTABILITY Milei’s dollarisation gets first test as Argentine banks re-open 20-11-2023 21:12 Javier Milei couldn’t have hoped for a better reception from investors on his first day as Argentina’s president-elect.
MARKETS Wall Street welcomes Milei victory but warns of challenges ahead 20-11-2023 14:29 Analysts and investors welcome the prospect of radical change in Argentina but warn about deep challenges facing Javier Milei.
MARKETS Argentina investors cheer Milei victory, brace for peso sell-off 20-11-2023 00:37 Investors cheered libertarian economist Javier Milei’s bigger-than-expected win in Sunday’s presidential vote and his pledge to usher in a radical remake of South America’s second-largest economy.
ELECTIONS 2023 – MARKETS After US$24-billion wipeout, Argentina’s bonds face election test 16-11-2023 11:12 Holders of some US$65 billion of sovereign debt — including major investors like Pimco, BlackRock and Fidelity — have seen Argentina's bonds haemorrhage in value since 2020. And they know, if history is any guide, that more losses are likely.
POPULIST PLAYBOOK Without providing evidence, Milei says he doubts election result 08-11-2023 22:53 Javier Milei alleges “irregularities” in Argentina’s October 22 election during an interview and says they “place the result in doubt.” Libertarian lawmaker provides no detail or evidence for claim to Peruvian writer Jaime Bayly.
BLOOMBERG - ANALYSIS Massa-Milei run-off is worst-case scenario for bonds 23-10-2023 20:40 A round-up of commentary about what the Argentina's election, the outcome of the vote and what it means for the markets.
MARKETS Argentina assets brace for sell-off after Massa forces run-off 23-10-2023 08:17 Investors braced for a sell-off after Economy Minister Sergio Massa did better than forecast in Sunday’s presidential vote, dashing hopes for an outright win by a more market-friendly candidate.
MARKETS Here are the assets to watch ahead of Argentina’s presidential election 20-10-2023 07:41 Investors in Argentine assets are bracing for losses ahead of Sunday’s presidential election, with uncertainty high as voters grapple with triple-digit inflation and economic gloom. Here are key assets to watch ahead of the vote.
MARKETS Argentina ETF sees biggest outflow since 2021 ahead of election 19-10-2023 13:36 An exchange-traded fund that tracks Argentine stocks saw its biggest outflow in more than two years ahead of this weekend’s presidential vote.
BLOOMBERG - ANALYSIS Anxiety boils over for Argentina’s bond investors ahead of vote 18-10-2023 14:27 Angst is spreading among holders of Argentina’s sovereign bonds, with nearly every scenario in Sunday’s presidential election pointing to further investment losses.
HELP FROM BEIJING China lets Argentina tap extra US$6.5 billion from swap line 18-10-2023 14:01 Move comes right before Argentina’s presidential election on Sunday as political uncertainty roils markets and the peso’s parallel exchange rate sells off.
MONETARY POLICY Central Bank likely to hold rate despite inflation spike 09-10-2023 21:04 Argentina’s Central Bank board plans to keep its benchmark interest rate unchanged despite inflation data hovering around a three-decade high.
Bloomberg Peso tumbles with dollarisation rush amping up before vote 05-10-2023 17:25 Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August sell-off.
THIRST FOR DOLLARS Argentines’ love of dollars creates a windfall for local brokers 02-10-2023 16:53 Argentina’s economic disaster has sent inflation soaring and pushed poverty levels toward a 15-year high. But for local brokerages, the chaos has fuelled a boom unlike anything industry veterans can remember.
OIL & GAS Argentina investors see rally in YPF bonds running out of steam 21-09-2023 23:07 Investors saying it’s time to sell bonds from Argentina’s state-run oil driller YPF SA ahead of the presidential elections in October.
DEFAULT ON THE CARDS? Argentina vote shock leaves investors dreading the next default 16-08-2023 14:05 Investors are fretting about the implications of negotiating with little-known populist Javier Milei when an all-but-inevitable deby restructuring process comes.
MARKET REACTION Argentine assets extend sell-off after vote surprise roils markets 15-08-2023 14:05 Argentine assets extend losses as strong support for outsider Javier Milei in a weekend primary vote reverberates through markets.
ELECTION 2023 Free marketeer Milei seen rocking commodities 14-08-2023 20:05 Javier Milei, the libertarian outsider who seized control of the race for Argentina’s Presidency, would shake up the country’s powerhouse commodity industries like none of his rivals.
ELECTION 2023 Vote shock has markets scrambling for Milei clues 14-08-2023 19:54 Wall Street is preparing for a November run-off after Javier Milei won surprisingly strong support in a primary.
FINANCIAL TURBULENCE Financial turbulence: ‘Dólar blue’ hits 600 per greenback 09-08-2023 21:35 Parallel exchange rate passes psychological barrier of 600 pesos per dollar in lead-up to this weekend’s PASO primaries.
Bloomberg Massa wins Greylock’s blessing in bid to save Argentina's economy 09-08-2023 14:52 Argentina’s inflation surged under Massa – Greylock sees him as best to save the economy.
MARKETS CNV securities regulator says investor data hacked, posted online 07-08-2023 08:24 Confidential trading information being passed around on social networks has local market operators in Argentina spooked ahead of next week's primaries.
economy Brazil is pushing the US out of world’s biggest soybean market 24-07-2023 15:44 China's increasing reliance on Brazilian soybeans during the typical season lull signals a shift away from the US as South America's shippers dominate the market, impacting American farmers and geopolitics.
economy Brazilian hedge fund Vista makes small Argentina bet ahead of election 13-07-2023 18:44 One of Brazil’s best-performing hedge funds is building a position in Argentina ahead of a presidential election that could result in a regime change.
BLOOMBERG - ANALYSIS Dollars are so scarce in Argentina that yuan use is at a record 26-06-2023 13:46 Yuan’s share of forex transactions hit record 28% this month; Dollars in short supply amid surging inflation, crop failures.
ANALYSIS Is it finally time to invest in Argentina, stuck between heaven and hell? 24-06-2023 01:27 From a financial standpoint, Argentina is back in the game. While for years it was considered a global financial pariah, and to a certain extent it still is, investors have sensed opportunity in a country with interesting prospects and massively undervalued assets. by Agustino Fontevecchia
VACA MUERTA Massa: Vaca Muerta set for US$500-million Chevron investment 10-06-2023 08:10 Economy Minister Sergio Masssa confirms Chevron Corp will invest up to US$500 million to develop the El Trapial field in the Vaca Muerta deposit.
BUENOS AIRES & BEIJING China allows Argentina to spend up to US$10 billion of currency swap line 02-06-2023 13:20 Chinese officials approve Argentina tapping up to 70 billion yuan (US$9.89 billion) of currency swap line, double the previous limit, according to a Central Bank statement.
BLOOMBERG - ANALYSIS Frantic push to solve sovereign debt crises irks Wall Street 28-05-2023 10:14 A shakeup is brewing in the US$1.6 trillion universe of emerging-market sovereign debt — whether Wall Street likes it or not.
CURRENCY SWAP Argentina seeks bigger China swap line to prevent peso sell-off 24-05-2023 10:48 Argentina’s government is asking China for an expansion of its bilateral currency swap in yuan as it seeks to build up reserves.
Mercado Sin Bozal Amid FX turmoil, government moves to contain 'bomba cambiaria' 26-04-2023 10:35 Savers are taking precautions and some financial institutions are beginning to take note of the withdrawal of dollars.
FINANCIAL TURBULENCE President Fernández accuses opposition of fuelling peso fall 25-04-2023 17:55 Argentina's currency extends multi-day slump to weaken on parallel exchange markets against dollar to 497 pesos per greenback, with President Alberto Fernández and Economy minister Sergio Massa lashing out at "rumours and false reports."
FINANCIAL TURBULENCE Economy minister vows to use ‘all tools’ to stop peso’s slump 25-04-2023 15:10 Argentina’s Economy Minister Sergio Massa vowed to staunch a collapse in the nation’s parallel currency rates as the peso’s worth slumps to record lows.
FINANCIAL TURBULENCE Massa to use ‘all state's tools’ to counter exchange rate turmoil 25-04-2023 15:02 Economy Minister Sergio Massa vows to use “all the tools of the state” to bring “order” to dollar-peso turbulence, as he blames “rumours and false reports” for exchange rate turmoil on parallel markets.
POLITICAL AND FINANCIAL INSTABILITY $420: The ‘elegant’ dollar 22-04-2023 06:23 This is the level of tension and uncertainty with which the Casa Rosada, the Economy Ministry, and Vice-President Cristina Fernández de Kirchner’s closest allies live, the day-to-day vicissitudes of a failing administration. by Agustino Fontevecchia
Global economic outlook From impending catastrophe to moderately optimistic? 04-02-2023 06:09 Just as the global economy was heading into an unavoidable recession, sentiment seems to have been reversed and optimism is taking over. by Agustino Fontevecchia
LULA IN BUENOS AIRES Brazil to finance Argentine importers in bid to boost trade ties 23-01-2023 21:42 Loans to Argentine companies will be given by public and private banks in Brazil and covered by guarantees from both governments.
Bull vs. bear Is it Massa, the bull market, or are we about to implode again? 14-01-2023 06:25 We are not walking on the edge of the precipice, but we’re still awfully close, and a small breeze could be enough to destabilise us. by Agustino Fontevecchia
EXCHANGE MARKET Argentina’s black-market peso slumps to record ahead of holidays 29-12-2022 15:33 Argentina's black market exchange rate plunged to a record low this week, with the blue dollar hitting 357 pesos per greenback.
MARKETS Venezuela’s nine-cent bonds lure a distressed-debt veteran 28-12-2022 14:16 Trader raising money to buy defaulted Venezuelan bonds amid signs of easing tensions between President Nicolás Maduro, the political opposition and the United States.
NEW YEAR APPROACHES World economy faces more pain in 2023 after a gloomy year 27-12-2022 09:56 International Monetary Fund expects the world economy to expand in 2023, with growth of 2.7%. The OECD is forecasting 2.2% growth.
MARKETS Latin America debt set for a comeback as politics give a break 12-12-2022 09:59 Dollar-denominated debt from Latin American governments and companies has handed investors returns of more than 10% so far this quarter, outperforming all other regions in an emerging-market index.
ANALYSIS Lula tests markets, picking leftist ex-mayor Haddad as finance boss 12-12-2022 09:53 Former São Paulo Mayor Fernando Hadda, a 59-year-old party loyalist, named as finance minister, following weeks of speculation about who would take on the most challenging job in Luiz Inácio Lula da Silva's incoming administration.
Markets Argentina AySA deal said to have critical mass to deter holdouts 03-12-2022 08:14 Any creditors considering holding out for a better deal in a debt restructuring offer from Argentina’s state-owned water utility AySA should probably think again.
BRAZIL ELECTION 2022 Brazil protesters block roads, airport as Bolsonaro stays silent 01-11-2022 11:57 Protests led by truck-drivers escalate; Bolsonaro has refused to make any public comment after losing the presidential run-off to Lula by less than two percentage points – the narrowest margin for a presidential election in the country’s modern history.
CURRENCY CONTROLS Qatar and Coldplay: Argentina multiplies its exchange rates 13-10-2022 01:43 The 'dólar Catar' and 'dólar Coldplay' were added to Argentina's exchange control jargon on Wednesday.
NEW MEASURES New taxes slapped on concerts, spending on cards overseas 12-10-2022 16:04 Aiming to "protect reserves for production and job creation,” the National Government introduces new levies to discourage purchases in dollars with debit and credit cards; New measures affect foreign currency purchases in excess of US$300, trips abroad and luxury goods.
BLOOMBERG – ANALYSIS British pound collapse erodes international trust in UK 28-09-2022 23:41 The UK thought it had the trust of markets — until it didn’t. Now homeowners and businesses will likely have to pay the price.