NEW YORK, March 13 (Reuters) - Argentina's international dollar bonds rose more than 2 cents on Wednesday as investors cheered overnight results of a local bond swap that cleared over $50 billion in upcoming maturities, and as monthly inflation slowed more than expected.
The 2046 bond gained the most, adding 2.8 cents to trade at 42.33 cents on the dollar, according to MarketAxess data. The notes maturing in 2029 through 2041 gained over 2 cents each, some trading near historic highs.
The still-high monthly inflation rate of 13.2% in February, published on Tuesday, marks a deceleration from 20.6% in January, and from 25.5% in December. Analysts polled by Reuters had expected February's rate to land at around 15%.
"A swift fiscal adjustment and a drag on real economic activity impacted by the erosion of household disposable income should contain price pressures," wrote Goldman Sachs analysts in a Wednesday research note.
Goldman said it expects monthly inflation to remain in double digits "in the coming months" as deregulation of prices continues to make its way through the economy.
The government also said some $52.5 billion was cleared in a $65 billion local bond swap issued to push back debt maturities due this year.
The country's bond maturing in 2029 was knocking on the 50-cent price tag, where it hasn't traded since it started trading in mid-September 2020.
(Reporting by Rodrigo Campos; Editing by Leslie Adler)
