Distrust persists: Argentina's country risk rises for the third consecutive day, reaching 741 points.

On a day with no activity in banks and the Buenos Aires Stock Exchange due to the local holiday, Argentina 's Country Risk index rose again, reaching 741 basis points , marking its third consecutive increase. The index, developed by JP Morgan, which measures the difference between US bonds and those of emerging economies, reflects the skepticism that persists in the markets regarding the country's financial future.

The indicator had fallen sharply following the lifting of the currency controls on April 14, reaching 896 points , but had since shown a progressive decline that brought it close to 700 points on April 25. However, since Monday, April 29, country risk resumed its upward trend, accompanied by greater volatility in sovereign bonds, which have failed to sustain a firm recovery in recent trading sessions.

On Wall Street, Argentine bonds are trading steadily in dollar terms, although they are failing to take advantage of the favorable international climate.

Argentine stocks listed in New York (ADRs) had a mixed day. While banks such as BBVA, Macro, and Galicia fell as much as 2% , industrial sector companies such as Ternium and Tenaris rose 3%. On average, ADRs fell 0.5%, with financial stocks particularly weak, reinforcing investor caution.

In contrast, Wall Street indices showed improvements driven by positive data from the US labor market: the Dow Jones rose 1.2%, the Nasdaq 1.5%, and the S&P 1.3% . The creation of 177,000 jobs in April, above expectations, strengthened investor optimism. Despite this, Argentine assets remained on the sidelines of the global momentum.

Although some progress has been made on the macroeconomic front—such as the agreement with the IMF and the slowdown in inflation—the markets have yet to enthusiastically endorse the government's new economic plan .

The rise in country risk highlights the fragility of the financial stabilization process, even with an official rhetoric focused on fiscal balance. For Argentine assets to reverse the lack of confidence, the market appears to be waiting for clearer signs of growth, institutional stability, and a more consistent roadmap to resolve the debt problem.