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Argentine debt in flames: the value of bonds plummets and country risk soars

RIO DE JANEIRO, BRAZIL -  Argentina's sovereign debt in dollars lost value again this Thursday both on Wall Street and in the local market.

Bonds traded under foreign legislation showed significant drops along the whole curve and the one that suffered the most was the Global 2030 (GD30), with a drop of 1.75%. The yield of this security, redeemable in US dollars and maturing in 2030, is already above 24% and does not seem to have a ceiling.

On the other hand, Argentine legislation bonds closed with losses of around 1% in Bolsas y Mercados Argentinos (ByMA).

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