News of trading

BLOOMBERG

Argentines make 7% returns in minutes thanks to capital controls

10-09-2019 11:19 One system to circumvent the controls is paying a return of seven percent in a matter of minutes, and it’s completely legal. The profit derives from the difference between the so-called “MEP dollar” – which entails buying and selling bonds in different currencies – and the official exchange rate.

Bloomberg

MercadoLibre makes Argentina home to best bond in emerging markets

06-09-2019 08:01 A convertible note from MercadoLibre Inc., the Buenos Aires-based e-commerce company with operations across Latin America, has trounced its peers with a 72 percent return this year. That’s the best performance in all of emerging markets.

ECONOMIC INDICATORS

Stock Exchange down 11.9% on second day of currency controls

03-09-2019 18:14 The Merval index of the Buenos Aires Stock Exchange fell 11.9 percent on Tuesday, with slumps registered for banks and energy companies.

REPORTS

Government plans aggressive defence of peso, starting Monday

31-08-2019 19:46 In May 2018, the Central Bank was able to temporarily halt the peso’s collapse by offering to buy US$5 billion, a huge amount in Argentina’s thin currency market. Monday’s measures may echo that plan, local reports suggest.

BLOOMBERG

Argentina bonds may be worth less than 40 cents a dollar in a default

21-08-2019 12:38 Citi sees recovery value at low-30s range, BofA says below 40. Massive sell-off sent implied probability of default to 85%.

BLOOMBERG – ANALYSIS

Markets: Dead-cat bounce finally arrives for Argentine markets

15-08-2019 15:08 After a brutal three-day sell-off that saw average yields spike to 21% and an implied probability of default gauge surge above 80% percent, investors finally found prices cheap enough to begin taking risk in the battered credit.