Argentina Country Risk At 278bp

Argentina’s country risk fell to a low of 278 basis points Thursday, as measured by JP Morgan’s EMBI+ index. Analysts concurred that Argentina’s improving macroeconomics have helped bring down the country risk, as well as a general repositioning of investors with regards to emerging markets in general. Argentina’s country risk has fallen 43% this year, from 492bp at the start of the year and compares with the stratospheric heights reached in August 2002 following the country’s debt default when the spread was over 7,000bp.