Argentine markets fall amid selectivity despite political agreements to advance labor reform

2026-02-24 19:08:20

Argentine Markets Fall Selectively Despite Political Agreements to Advance Labor Reform

FILE PHOTO - Supporters of Argentine President Javier Milei attend a campaign rally in Buenos Aires, Argentina. Apr 30, 2025. REUTERS/Matias Baglietto · Reuters

REUTERS

Wed, Feb 11, 2026, 11:27 p.m. GMT+9 2 min read

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^MERV

-0.10%

BUENOS AIRES, Feb 11 (Reuters) - Argentina’s financial markets traded selectively on Wednesday as attention focused on the treatment of a labor reform pushed by libertarian President Javier Milei, which will be immediately discussed in Congress.

The government introduced changes to the bill presented to the Senate after reaching agreements with governors and allied opposition.

“The government was able to start imposing its agenda and begin making the necessary reforms to keep the growth trajectory,” said Capital Markets Argentina.

In the stock market, the leading S&P Merval index in Buenos Aires fell 0.67% around 1340 GMT, after rising 2.82% the previous day due to portfolio rebalancing.

Sovereign bonds in the local over-the-counter market showed a generally bullish pre-opening, with Argentina’s country risk balanced around 507 basis points.

The Treasury will auction local currency debt this afternoon to raise liquidity for maturing obligations of about 7.3 trillion pesos.

“The focus will not only be on the rollover but also on the rates validated in relation to secondary market operations, in a context where seasonal peso demand is beginning to decline,” said Grupo SBS.

In the currency exchange, the interbank peso depreciated slightly by 0.35% to 1,411 per dollar, amid a context where the Central Bank (BCRA) is buying foreign currency for its international reserves.

The monetary authority has accumulated wholesale market purchases totaling $1.694 billion so far in 2026.

“Operators continue to detect a higher supply of dollars that does not find enough private demand, as reflected in some trading sessions by the high participation of BCRA purchases,” said economist Gustavo Ber.

See more gains in the S&P Merval
See more declines in the S&P Merval

(Report by Walter Bianchi; collaboration by Hernán Nessi; edited by Jorge Otaola)

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