Thousands of Bolsonaro supporters stormed government buildings in Brasília. At the moment, Brazil’s insurrection portrays no direct effect on Argentina.

The prediction marks the first time private economists have placed Argentina’s potential inflation above the triple-digit number. This is a level not seen in the country since the early 1990s when hyperinflation damaged its economy.

Last week, Argentina’s congress approved a restructuring deal for $45 billion in debt owed to the International Monetary Fund (IMF). Following two years of negotiations, President Alberto Fernández urged his parliament to approve the deal prior to a payment of $2.8 billion due on March 22. The agreement ultimately removes the threat of an imminent default on $19 billion of repayments due this year. The terms of the agreement require Argentina to gradually reduce the budget deficit over the next three years while curbing central bank money printing in exchange for a four-and-a-half-year grace period on IMF payments.

Argentina’s midterms legislative elections implications on The Blue Chip Swap spread.

As you are probably aware, Argentine currency controls are still presenting obstacles for businesses who need to send money into or out of the country. Global market volatility is making this need more urgent for most investors, who need to act decisively in these uncertain times.

This week, we noticed that the difference between the Blue Chip Swap rate and the "official" Argentine Peso/US Dollar exchange rate reached 100%.