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What the new Labour government means for your money

Now that the dust has settled on the election we can take stock of what a Labour win will mean for your finances

Argentina 2046 bonds extend decline, fall more than 5 cents

Reuters
·1-min read

LONDON, Oct 24 (Reuters) - Argentina's sovereign dollar-denominated bonds maturing in 2046 fell as much as 5 cents on the dollar on Tuesday, being bid at 19 cents on the dollar.

The country's longest-dated overseas note is suffering the sharpest decline, extending Monday's plunge in the country's assets after the ruling Peronist coalition smashed expectations to lead the country's general election ahead of a Nov. 19 runoff.

Argentina's 2041 bonds fell two cents on the dollar at 0908GMT, while the rest of the curve was trading with losses of as much as 0.6 cents on the dollar, MarketAxess data showed.

All the country's overseas notes trade below 30 cents on the dollar, deep into distressed territory. (Reporting by Jorgelina do Rosario, editing by Karin Strohecker)