Some mutual funds allocated more than 10% to Argentine bonds that crashed this week

Reporter

Yield-seeking investors everywhere are getting singed this week by the meltdown in Argentina’s markets following the victory of a populist candidate in the South American nation’s presidential primary election.

Argentina’s 8.75% dollar-denominated bond due in 2024 traded Tuesday for about 45 cents on the dollar, down from 73 cents before populist presidential candidate Alberto Fernandez 

pro-business incumbent Mauricio Macri in a primary election on Sunday, according to data from IHS Markit.

Argentine vote hits Ashmore, Fidelity and T Rowe bond funds

Matt Wirz

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