RPT-Argentina bonds, stocks gain after swap pledge
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* Stocks, bonds rebound from Tuesday's sell-off
* Peso weakens as safe-haven dollar demand picks up
By Jorge Otaola
BUENOS AIRES, Jan 13 (Reuters) - Argentine stocks and bonds rose on Wednesday after the government vowed to press ahead with a debt swap in spite of a legal spat over government plans to use foreign reserves to pay debt.
Argentina is sending a "strong signal" that the swap to mop up defaulted sovereign bonds is going ahead as planned, Economy Minister Amado Boudou told Reuters in an interview. For details see [ID:N13136742]
Argentine bonds also got a lift from reduced investor concern about a U.S. court order that froze some Central Bank accounts because the government said only $1.7 million had been embargoed, though later on Wednesday court documents showed up to $2.7 bln had been frozen.
Sovereign debt traded over the counter in Buenos Aires ended up an average of 0.3 percent, reversing earlier losses of up to 1 percent. The peso-denominated Boden 12 bond ARBODEN12=RASL rose 1.6 percent to an ask price of 123.90.
"Boudou's comments ... restore calm to the market by maintaining the idea that the swap is still on course," said Christian Reos, an analyst at the Allaria Ledesma and Co brokerage. Continuación...