October 29, 2019 / 9:51 AM / 3 months ago

Argentina dollar bonds spooked by Fernandez's vow to 'turn the page' on Macri

LONDON (Reuters) - Argentina’s sovereign dollar bonds came under pressure on Tuesday after president-elect Alberto Fernandez vowed to ‘turn the page’ on the IMF-backed policies of incumbent Mauricio Macri.

The benchmark international 2028 dollar bond 040114HQ6= slumped 1.1 cents to 37.1 cents in the dollar, while the 2023 issue 040114HP8= slipped 0.9 cents to 39.36 cents in the dollar, according to Refinitiv data.

Fernandez and his Peronist left government swept back into power on Sunday as the electorate voted to ditch the economic liberalization and austerity of conservative Macri, which has left the economy on the cusp of a $100 billion debt restructuring.

Reporting by Tom Arnold, editing by Karin Strohecker

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