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Argentine Yields Jump From 10-Year Low Versus Venezuela on Rising Payments
Bloomberg
July 21, 2010

Argentine dollar bond yields relative to Venezuela's are rising, narrowing the gap from the widest in a decade, as investors bet President Cristina Fernandez de Kirchner will have more difficulty than her counterpart Hugo Chavez in meeting debt payments next year.

Argentine dollar bonds yielded an average 10.74 percent yesterday, 376 basis points, or 3.76 percentage points, less than the rate on Venezuelan debt, according to JPMorgan Chase & Co.'s EMBI+ index. The difference swelled to 412 on July 7 as Argentina's Fernandez restructured $12.9 billion of defaulted debt, pushing yields lower.

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