Argentina's markets give Milei a reality check as early romance fades

[Jerry Nelson]

https://www.reuters.com/world/americas/argentinas-markets-give-milei-reality-check-early-romance-fades-2024-01-10/

Argentina's markets, which soared after President Javier Milei took office a month ago, are now giving the libertarian leader a dose of reality, with bond prices slipping, the peso weakening again and investors wary of the government's new debt auctions.

 

[Caribbean Cool]

https://www.reuters.com/world/americas/argentinas-markets-give-milei-reality-check-early-romance-fades-2024-01-10/

maybe

 

[PhillyD]

Maybe not…

Argentina bonds gain as Milei’s rework passes crucial tests

Javier Milei capped his first month as president by winning approval from markets, providing a lift for his broader plans to overhaul Argentina’s economy.

www.batimes.com.ar

 

[lunar]

Maybe not…

So, some Argentine government bonds, due for a 1-dollar payment by the government in 2030, increased in value from 0.38 to 0.40 in a week. OMG, this is a game changer! They need to write 10 articles about it.

 

[Quilombo]

The reality check is here already:

• Inflation closed out 2023 @ 211.40%
• Inflation for January is expected to be 25% again
• Poverty is now 46%
• The brecha between the CCL and the BCRA dollar is around 40%
• BOPREAL remains a dead cat for now, it has an issuance capacity of 5 Billion, yet after 3 tenders it remains at just barely 1/5th of bonds sold
• Dollar future contracts expect the 2% crawling peg to be abandoned, likely after February
• Commodity prices have decreased in Chicago, while export duties have increased domestically

I'm not suggesting his presidency is a failure, I'm just getting major Macri deja vu. But surely the lluvia de inversiones will come this time, right? That's why Marcos Galperin, a Milei sycophant is going to stop posting shitty Bing AI memes on Twitter about how great he and things are and is going to move back home, right???