The world’s riskiest sovereign bonds are having a moment as Wall Street investors seek out high yields from countries showing early signs of market-friendly pivots.
- Even serial defaulter Argentina has seen its dollar bonds advance in June as investors position for the nation’s upcoming presidential elections. President Alberto Fernandez has ruled out running for reelection with inflation running above 100% and government coffers running dry, opening the door for a new administration with market-friendly priorities.
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