Argentina provinces: FX Hedge remains the defining trait of provincial returns

  • We still favour the FX Hedged group due to local and global factors

  • We looked for opportunities in the category of Non-FX Hedged provinces

  • We reaffirm our preference for BA City, Mendoza, Salta and Tierra del Fuego and see value in La Rioja

October 4th, 2022
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