Argentina CDS hits 972bp, highest in a year, as default risk spikes

Argentina's two-year credit default swap spread surged to 972 basis points, the highest level since last year's legislative elections, signaling rising market distrust in the country's ability to service debt. The spike reflects investor concerns over the end of Javier Milei's term and the sustainability of his economic reforms. This matters because it indicates deteriorating market confidence in Argentina's sovereign creditworthiness, which could raise borrowing costs and pressure the peso.

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