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Argentina’s bonds trended lower over the past week with its 4.25% 2038s dropping by almost 4-5 cents before rebounding back slightly on Monday. The downward move comes on the back of increased uncertainty over the passing of President Javier Milei’s pro-market reforms package by Congress that is scheduled for a debate tomorrow, i.e. 12th June. The opposition senators continue to pushback against the package and are looking to water-down the omnibus bill by removing proposals that would force more workers to pay income taxes, expand the president’s executive powers and privatise state-owned companies, according to a Bloomberg report.
Argentina’s dollar bonds are currently trading at 45-50 cents on the dollar.
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