Argentina dollar bonds hit record highs as Milei rally powers on

Argentina's dollar-denominated international bonds continued to rally, with the 2030 paper posting its highest-ever closing price on Thursday at slightly above 51 cents on the dollar. The bonds have rallied from lows that took the 2030 issue to 18.125 cents in mid-July 2022, on the back of investor bets that the administration of President Javier Milei, in power since December, will be able to successfully transform the Argentine economy. At the index level, Argentina's bonds have gained some 60% since Milei was elected on Nov. 19.