Argentina’s Central Bank Uses $3 Billion Repo To Shore Up Reserves

Key Points The BCRA raised $3.0 billion via a 372-day repo backed by Bonares bonds maturing in 2035 and 2038. Pricing is SOFR plus about 400 basis points, which the bank said works out near 7.4% a year. Demand topped $4.4 billion, around 50% above the amount taken, days before a roughly $4.2–$4.3 billion debt […]