LatinNews Daily - 08 February 2024

In brief: Markets respond to omnibus bill defeat in Argentina

*Argentina’s bonds have slumped following a major setback to President Javier Milei’s omnibus reform in congress. According to indicative price data compiled by Bloomberg, benchmark dollar bonds due in 2030 declined the most since October, dropping almost 1.9 cents on the dollar yesterday while notes due in 2041 are down 1.4 cents to around 33 cents on the dollar. Reuters reported that the S&P Merval index for the Buenos Aires stock exchange in Argentina slumped over 5%, which it describes as “its worst day since mid-December”.

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