Argentina's Bonds Price 2027 Election as Grain Waits on FX Controls

Argentina's economy under Milei has moved from near-hyperinflation towards stability, yet exchange controls still keep its producers from hedging abroad. StoneX Group Chief Executive Philip Smith hosts In the Round from Buenos Aires with Iair Nadel, StoneX Argentina Chief Executive Officer, Lucio Arrocha, StoneX Argentina Strategist, and Joaquin Gonzalez, StoneX Argentina Head Trader. Argentina's bond market is already pricing the 2027 election, with debt maturing after the vote trading at a wide spread to debt maturing before it. Exchange controls and export taxes keep agriculture, mining, and oil and gas producers from hedging on global markets, and a large stock of trapped pesos means the controls cannot be lifted overnight. 0:00 Argentina Through Every Crisis 5:30 Argentina's Boom-Bust Cycle 8:16 Peso Calm Ends the Arbitrage 11:14 Argentina Bonds Price the Vote 13:21 Argentina's K-Shaped Economy 16:09 Argentine Grain Can't Hedge 22:06 Foreign Money Skips Peso Debt 38:31 2027 Election Splits the Panel Like and subscribe for more financial market insights. #Argentina #StoneX #PhilipSmith #Milei