Dollar bonds fell to 14%; however, S&P Merval rose 1.6%.

Dollar securities under local legislation collapsed by up to 14%, while foreign-regulated instruments closed in positive territory by up to 3.6% after the government postponed payment of up to $10 billion of debt under Argentine legislation until the end of the year. Argentina’s country risk, as measured by JP. Morgan fell 2.6% to 3,588 units. The leading S&P Merval index of Bolsas y Mercados Argentinos (BYMA) rose 1.6% to 26,922.59 units.

Source: Ámbito