Argentina’s National Securities Commission has modified the term that investors must keep Argentine sovereign bonds in their portfolio. Since they are traded in pesos and dollars, sovereign bond operations are one of the few ways to freely access the dollar in Argentina today. Until yesterday, the holding period for sovereign bonds was two days for securities issued under both Argentine and foreign law. Argentine sovereign bonds under Argentine law: one day of parkingArgentine sovereign bonds under foreign law: three parking daysArgentine sovereign bonds are used to access the U.S. dollar. The blue-chip swap rate is important because of the brecha – the exchange “gap” with the official dollar exchange rate.

Source: Bueno Aires Herald April 11, 2023 18:55 UTC