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Argentine Bonds Post Longest Winning Streak in 19 Months on Growth Outlook
Bloomberg
August 05, 2010

Argentina benchmark dollar bond yields headed toward a fifth straight weekly drop, the longest decline since January 2009, as a commodities rally boosted growth prospects in South America's second-biggest economy.

The average yield on international government bonds tumbled 28 basis points, or 0.28 percentage point, this week to 10.16 percent, the lowest since June 2008, according to JPMorgan Chase & Co. The yield has dropped 147 basis points over the past five weeks.

Economy Minister Amado Boudou on Aug. 4 raised his growth forecast for this year to 7 percent, which would be the biggest expansion since 2007, from about 6 percent. A record soybean harvest and a 25 percent increase in auto exports in July from a year earlier are accelerating an economy the government says grew 0.9 percent in 2009.

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