Thursday, May 15, 2008

Argentine Bonds gain....

Argentine Bonds rose today on speculation that the Government would scrap the tax on the Farmers. This Tax has caused major problems in Argentina recently. The farmers have staged a few strikes fueling the food shortages throughout the country. The Article on BLOOMBERG details the situation. The market has not reacted as positivly as I would have thought. The CB was in yesterday selling dollars and I heard that the Venezuelan government purchased bonds yesterday, infusing more dollars into the market.

I am short dollars trying to collect the yield, but I am not overly confident in the position.

Good Luck and Good Currency Trading.

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