Argentina international dollar bonds rally on President Milei's new reform push

Argentina's international dollar bonds rallied on Monday following a fiery speech late on Friday from President Javier Milei in which he vowed to "speed up" his plans to overhaul the country and solve its economic woes. The 2035 issue was up over 4 cents to more than 41 cents on the dollar, while the rest traded at or near three cents higher each, according to data from MarketAxess.

"We won't back down, we're going to keep pushing forward," Milei said, challenging Congress to pass a new package of bills after an earlier version of his "omnibus" reform was rebuffed last month.