Argentine Assets Rebound as Milei Strikes More Moderate Tone (1)

Argentina’s dollar bonds are recovering from a week-long rout after President Javier Milei struck a more conciliatory tone during the introduction of next year’s budget, raising hopes he can gain support ahead of midterm elections next month.

Sovereign notes rose across the curve, with the 2035 maturities gaining more than a cent to trade above 54 cents on the dollar, according to indicative pricing data compiled by Bloomberg. Meanwhile, the currency halted a six-day slide, trading little changed only a few pesos away from the weaker limit of its trading band.

Milei told lawmakers he would increase spending on health-care, ...