Overview
- - The Central Bank settled roughly US$1.0 billion today for the second Bopreal Series 3 amortization, postponed from February 28 to the next business day, using international reserves.
- - Year to date, the Central Bank has bought around US$2.7 billion in the FX market, lifting gross reserves, but net reserves remain about –US$2.5 billion given short‑term dollar liabilities and debt service.
- - The Treasury’s new local‑law dollar bond AO27 raised US$250 million in its first sale at a 5.89% yield, with biweekly placements of up to US$250 million targeting a US$2 billion cap to prepare for roughly US$4.2 billion due in July.
- - In the latest peso auction, the Treasury rolled over less than 100% (AR$6.7 trillion placed vs AR$7.2 trillion maturing), as demand concentrated in shorter‑tenor instruments.
- - External risk appetite remains cautious, with Argentina’s JPMorgan EMBI near 560–572 basis points, and March brings an estimated US$837 million in multilateral and bilateral payments plus about US$540 million in provincial bond maturities.