The country risk breaks the barrier of 500 points for the first time since January and the Government celebrates

The Argentine bonds extend the celebration which began last week after the risk rating agency Fitch decided to improve the country’s rating. Socountry risk drops 2.4% at the opening and It reaches 498 points, its lowest value since January of this year.

“The improvement in Argentina’s credit rating by Fitch set the tone for local assets during the week. After the upgrade to B-, hard dollar sovereign debt extended the rally and Global assets advanced between 1.2% and 3% weekly,” they commented on PPI. This Monday, the global stocks extend that positive streak and the most benefited are the longer-term securities, such as the Global 2046, which gains 1.2%

The data did not go unnoticed by the Government and Felipe Nuñeza strong man from Luis Caputo’s team, announced it on his social network account X: “ Gentlemen, the country risk is currently at 498 pts.“.

Gentlemen, the country risk is currently at 498 pts.
🦁🇦🇷📈

— Felipe Núñez 🦅 (@Felii_N) May 11, 2026

The resistance of the main JP Morgan banking indicator to accelerate its decline and approach the numbers of other economies with characteristics similar to those of Argentina is a topic of debate these days in the City. Caputo himself used that same platform to explain why he believes that Argentina is not compressing its rate differentials faster.

“I have said a dozen times (and I still say it) that FOR ME, the kuka risk is zero. That is, I believe that there is NO chance that Kirchnerism will win the next elections.“, wrote the minister. “The market does not think the same as I do. Assign a 10 to 15 percent chance that this actually WILL happen. And it turns out that country risk measures what the market thinks, not the Minister of Economy or a particular person,” he concluded.

The stock market, for its part, This optimism rises and the Merval, which closed last week lower, rebounds 0.4% measured in cash dollars with settlement.

On the exchange front, the wholesale dollar remains on the verge of $1,400 and the retail dollar remains stuck at $1,420 in the banks.

“The wholesale dollar is rearranging slightly towards $1,400 while operators wait for the new inflation data to evaluate if it will have any effect on the current financial context, since negative real rates require an excess of currencies like the current one and a path of convergence in prices,” commented economist Gustavo Ber.

“The eyes these days are focused on the pace of BCRA purchases, after some rounds where they slowed down, since they are strong during this stage is a necessary condition to advance in the accumulation of reserves,” added Ber.