A key measure of Argentina’s sovereign risk fell to its lowest level in seven years as policy changes by President Javier Milei’s administration left the nation closer to a return to international debt markets.
The extra yield investors demand to hold Argentina’s sovereign debt over US Treasuries with similar maturity fell below 559 basis points on Friday, according to a JPMorgan index. The spread, which is now at the lowest since July 2018, has almost halved since Argentina’s midterm elections in late October when Milei’s party won by more than expected and more than doubled its seats in Congress.
The resounding victory, which came after a turbulent two months that saw the US Treasury step in
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