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Bond Market News
Argentina’s Dollar Bonds Tick Higher on Buyback Talks
October 21, 2025
Argentina’s dollar bonds ticked higher by ~1 point after its Finance Secretary said that the government planned to buy back sovereign bonds to reduce financing costs. He added that the government had already begun negotiations for the transaction with JPMorgan. He called it a “debt-for-education” deal, with fresh loans from agencies and multilateral organizations used to repay higher yielding bonds. However, he did not mention which debt they were looking to buyback, or who would make the new loans.
While this was considered a postive update, analysts still remain concerned about the peso’s fall despite the US’ $20bn rescue agreement. They added that it has cast doubts on whether the assistance will be able to prevent another currency devaluation. This comes just ahead of the legislative elections scheduled for October 26. Prior to the US’ intervention, Argentina’s government was selling dollars to protect the peso, thereby hurting its reserves and leading to periodic spikes in local interest rates.
Argentina’s 4.125% 2035s were higher by 1.5 points to trade at 57.24, yielding 14.27%
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