This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Dollar bonds of Argentina and YPF fell 1-2 points across the curve after Economy Minister Sergio Massa took the lead in the country’s first-round Presidential vote, thereby forcing a runoff with Javier Milei expected for next month. Massa is the ruling coalition’s presidential candidate and him winning the first round with 37% of votes was not expected as per initial polls. Analysts note that a potential upset by Massa could see concerns about continuing free-spending policies by the nation where inflation has touched ~140%. On the other hand, Milei who got 30% of the votes, is considered a libertarian economist pledging tax and spending cuts. Milei is said to have signaled an aim to increase YPF’s efficiency and eventually privatize it. Jefferies analysts note, “We continue to see YPF as the most levered play to Argentina’s presidential election”.
Argentina’s 1% 2029s were down 1.7 points to trade at 25.9 cents on the dollar. YPF’s 9% 2029s were down as much as 2.3 points to trade at 85.46, yielding 13.74%.