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Argentina Stocks, Bonds Surge Amid Global Rally
Wall Street Journal
August 02, 2010

Argentine stocks and bonds rode a wave of optimism across global markets to start off August with steep gains.

Global markets rallied Monday due to better-than-expected manufacturing and construction spending data in the U.S., as well as encouraging European bank earnings and global manufacturing.

The positive mood fueled greater risk appetite, spurring a buying spree in Buenos Aires that boosted bonds and pushed yields down under a key barrier.

Argentina's dollar-denominated Global 2017 bond rose enough in price terms Monday to pull the yield down below the key target of 10%, which the government says it wants to see before issuing new debt overseas.

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