Argentine Bonds, Peso Rally Ahead of Crucial Vote for Milei (1)

Argentine bonds climbed for only the second time in six sessions on Thursday, while the peso strengthened for a second day ahead of crucial midterm elections this weekend.

Sovereign notes due in 2035 gained one cent to trade at 56.2 cents on the dollar, reversing the decline of the day before. The currency rose as much as 0.7% to close at 1,479 per dollar.

Both JPMorgan Chase & Co. and Citigroup Inc. were active in Argentina’s spot market Wednesday as the US attempts to head off a currency crisis for its ally Javier Milei before the elections. Traders estimate the ...