Country risk reached the highest level in two years

The country risk climbed this Monday to 2,219 basis points, the highest level in the last 22 months. With the local market inactive due to the Flag Day holiday, this indicator continues to rise.

Last Friday, the JP Morgan indicator that measures the surcharge faced by Argentine debt in relation to US treasury bonds had closed on the verge of 2,200 points. Today, it exceeded that mark and reached levels not seen since mid-2020. All within the framework of the fall in Argentine bonds.

Argentine bonds were trading almost all in the red this Monday, with declines of around 1%. So far this year, Argentine bonds have lost about 30%.

The country risk, meanwhile, climbed 30.8% so far in 2022.

Last week, the informal dollar jumped $8 to $224, its all-time high. Then, it fell back to $216.

Given the soaring of the US currency, the national government ruled out imposing new restrictions on the dollar for individuals or companies. “I can absolutely rule it out. There is no type of trap or restriction that the government is thinking of or that is going to be announced in the next few hours. We absolutely deny it,” said the presidential spokeswoman, Gabriela Cerruti, during the press conference that gave the Last Thursday at Casa Rosada.

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