What began as a strong week for Argentine assets on Wall Street lost momentum over the last two trading sessions. Most Argentine companies listed in New York closed lower on Friday, led by declines in Mercado Libre (-2.35%), Telecom Argentina (-1.43%), and Cresud SACIF (-1.38%).
Meanwhile, the country risk index compiled by JP Morgan ended the week hovering above 418 basis points. The increase pushed it further above the 400-point floor, a key threshold that would allow the Milei administration to access international financing at lower interest rates.
The development was driven not by measures taken by President Javier Milei’s administration, but by actions carried out by his closest ally, U.S. President Donald Trump.
On Friday, the United States launched attacks on bridges in Iran, while Tehran retaliated by striking a power plant and a desalination facility in Kuwait. At sea, U.S. Marines boarded an oil tanker near the Strait of Hormuz, while unidentified armed men seized another vessel off the coast of Yemen.
Rising volatility and benefits for one sector
