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Mexico, Argentina, Venezuela: Latin America Local Bond Preview

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Mexico, Argentina, Venezuela: Latin America Local Bond Preview

The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.

Argentina {ARGENT }: Argentina’s central bank plans to step up oversight over foreign-exchange trading, seeking to block bond trades that are used to make illegal foreign- currency transfers, the bank said in an e-mailed statement yesterday. The bank said it had detected alleged violations of exchange control regulations through simultaneous purchases and sales of bonds in Argentina and abroad. Analysts such as Rafael Ber at Argentine Research say the economy’s expansion had increased the foreign currency needs of many companies beyond the central bank’s monthly maximum set in 2003.

The yield on Argentina’s 5.83 percent bond maturing in December 2033 rose 7.3 basis points to 6.05 percent, according to Banco Mariva in Buenos Aires. {ARARGE03E121 DES }

More: bloomberg.com

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