NEW YORK, July 6 (Reuters) - Argentina's dollar bond prices
plowed record lows on Wednesday as investors continue to weigh
the country's economic policy outlook after the abrupt
resignation of the finance minister over the weekend.
Argentina's new economy chief, Silvina Batakis, told
officials at the International Monetary Fund that she supports
the objectives of a $44 billion program and will work
constructively with the global lender, a key focus for
However, the market signals were of caution, with two of the
six dollar bonds outstanding breaking below 20 cents on the
"The unexpected resignation of (Martin) Guzman last Saturday
and the appointment of the new FinMin Silvina Batakis opened up
a new period of financial and macroeconomic uncertainty,"
JPMorgan said in a Wednesday note.
Uncertainty about the direction of the economy added to
external pressures on Argentina and other emerging markets.
Stubborn inflation and concern about a de-anchoring of inflation
expectations in the United States prompted the Federal Reserve's
outsized interest rate increase last month, minutes of the
latest policy meeting showed.
Emerging markets suffered a fourth straight month of
portfolio outflows in June, notching the longest losing streak
in seven years, as recession fears and inflation rattled
(Reporting by Rodrigo Campos in New York
Editing by Matthew Lewis)