Señal Argentina · November 5, 2026
Machine translation of the Spanish original. Read the original
On November 4, 2026, the BCRA intervened in the secondary peso-denominated debt market with significant bond purchases. This action triggered a strong rebound in the yield curve. The operation mobilized $3.15 trillion, almost tripling the daily average. It focused on variable-income securities, such as dual bonds (CER/TAMAR) and long-term bonds. The prices of these bonds rose up to 4.3%, which led to a decrease in interest rates.
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BCRA intervenes with peso bond purchases, driving a strong rebound in the curve
On November 4, 2026, the BCRA intervened in the secondary peso-denominated debt market with significant bond purchases. This action triggered a strong rebound in the yield curve. The operation mobilized $3.15 trillion, almost tripling the daily average. It focused on variable-income securities, such as dual bonds (CER/TAMAR) and long-term bonds. The prices of these bonds rose up to 4.3%, which led to a decrease in interest rates.
Why it matters
The BCRA's intervention in the peso-denominated debt market sets a floor for the prices of these instruments. This action directly affects the projected yield for local currency portfolios. Analysts interpreted the operation as an official strategy. It aims to readjust the yield curve and facilitate the Treasury's upcoming debt auction. The month presents significant maturities.
What to watch
Attention is focused on the Treasury's upcoming debt auction. This operation will confirm whether the BCRA's intervention succeeded in readjusting the yield curve. It will be key to observe the demand and yields of the new instruments.
Also noteworthy
Global dollar falls after US elections. The dollar registers its largest drop in two months. This occurs after the election results in the United States, boosting Latin American currencies. Bloomberg Línea →
Banking collapse in Paraguay affects companies. Ueno Bank's intervention in Paraguay generates regional alert. Argentine companies and entities with funds in the bank are affected. La Nación Economía →
Dashboard
| official dollar | $ 1.570,00 | 0,0% |
| MEP dollar | $ 1.588,60 | +0,5% |
| CCL dollar | $ 1.680,40 | +0,7% |
| blue dollar (informal rate) | $ 1.560,00 | -0,6% |
| CCL / official gap | 7,0% | |
| country risk (EMBI) | 852 bp | +21 bp |
| Merval | 2,848,945 points | -0,4% |
| Monetary policy rate | 22.1% TNA | +0.51 pp |
| BCRA Reserves | USD 50,439 M | +1,874 USD M |
| Oil | USD 88.65 | +0,6% |
| Soybeans | USD 1,207.25 | +1,2% |
| Copper | USD 6.39 | -0,1% |
| S&P 500 (SPY) | USD 766.81 | +1,7% |
| VIX | 16.8 points | -19,2% |
| US 10-year rate | 4,89 % | -0.06 pp |
What to watch today
| Today | Argentine Foreign Trade Statistics. Merchandise. Preliminary data for the nine months of 2026 AR |
| Today | Fishery Industrial Production Index (IPI pesquero). September 2026 AR |
| 06/11 | US · Employment · Non-farm payrolls (NFP) US |
| 10/11 | US · CPI / inflation (CPI) US |
| 11/11 | Treasury · Bills and bonds auction AR |
This is not an investment recommendation. The information published is general and does not consider particular situations. Operating in financial markets implies risk of loss. Consult with a registered financial advisor before making decisions (Law 26.831).
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