BlackRock's Rieder says Argentina debt 'pretty cheap'

NEW YORK (Reuters) – BlackRock’s top bond manager said on Thursday Argentina’s debt is trading “pretty cheap” and though he doesn’t anticipate adding to positions, he said he will hold what he already owns for the foreseeable future.

“At these levels, we think organically the debt is pretty cheap at where it is trading,” said Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income during the Reuters Global Investment Outlook 2020 Summit.

Most of Argentina’s dollar-denominated bonds are currently trading around 40 cents on the dollar.

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