Argentina’s sovereign-risk spread over US Treasuries widened as many as 126 basis points on Wednesday to almost 2,500, its widest in four months, according to JPMorgan Chase & Co. data. The move came after the government said it would force public-sector institutions to sell their holdings of the nation’s dollar bonds to private investors. It’s the second time since July the measure has risen more than 100 basis points in a day, even as the South American nation seeks to calm volatility in i
(Bloomberg) — Argentina’s sovereign-risk spread over US Treasuries widened as many as 126 basis points on Wednesday to almost 2,500, its widest in four months, according to JPMorgan Chase & Co. data. The move came after the government said it would force public-sector institutions to sell their holdings of the nation’s dollar bonds to private investors. It’s the second time since July the measure has risen more than 100 basis points in a day, even as the South American nation seeks to calm volatility in its parallel currency market in the run-up to presidential elections in October.
Read More: Argentina Bonds Slide After Nation Orders Public Sector Sale
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