Argentina sovereign curve — live YTM, duration and price
Full Argentine sovereign bond curve in USD and pesos: price, YTM, duration, parity and days to maturity per ticker. Source: BYMA.
How to read the Argentine sovereign curve
The sovereign curve groups USD- and peso-denominated bonds issued by the Argentine Treasury, sorted by maturity. The most actively traded are Bonares (tickers AL…, local-law jurisdiction) and Globales (tickers GD…, New York-law jurisdiction). Both pay in USD but differ on applicable default clauses.
For each bond the curve shows: market price, YTM (annualized yield), duration (rate sensitivity), parity (current price / technical value) and days to maturity. The shape of the curve — positive, flat or inverted — reflects risk expectations and monetary policy.
Outside market hours (16:00-17:00 ART) and on weekends, BYMA closes its OMS and does not publish YTM/duration. In that case the table shows price and days to maturity only; to compute YTM locally, use the compute_ytm tool in the AI terminal.
Common questions
What is the sovereign curve and why does it matter?
It is the set of Argentine Treasury bonds sorted by maturity, with their yield (YTM) at each tenor. The shape tells you how the market values Argentine solvency: a steep upward curve signals normal conditions, an inverted one flags short-term stress.
What is the difference between AL30 and GD30?
Both are sovereign USD bonds maturing 2030, but AL30 is local-law (Argentina) and GD30 is New York-law. In a restructuring scenario, GD30 holders have stronger international legal remedies — so GD30 usually trades higher and with lower YTM.
Why is YTM / duration sometimes missing?
BYMA publishes analytics (YTM / duration / parity) only while the OMS is open (approximately 11:00-17:00 ART, Mon-Fri). Outside those hours the table shows only the closing price and days to maturity.
What does bond parity mean?
Parity = price / technical value. It tells you whether the bond trades at a premium (>100) or a discount (<100) to principal + accrued interest. Low-parity bonds carry more convexity and principal risk; high-parity bonds move mostly with rates.
What counts as `low` or `high` duration here?
For the Argentine sovereign curve: duration below 2 years is low (short AL29/AL30), 2-5 years is medium (AL35, GD35), over 5 years is high (GD38, GD41, GD46). Higher duration means more price sensitivity to rates and country-risk changes.
Analyze the curve with AI
Open the Rueda AI terminal and ask: AL30 vs GD30, CER vs LECAP breakeven, local-law vs NY-law arbitrage.
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