Financial thermometer: the two signs that show why the market is paying more attention to politics than to the economy

Financial markets have exhibited increased sensitivity to political developments over economic indicators, as evidenced by recent market movements in Argentina and international commodities.

In international markets, Brent crude oil prices dropped by more than 1% to trade around 97 dollars per barrel for November delivery, driven by market optimism regarding diplomatic progress between the United States and Iran.

Concurrently, despite a successful exchange of dollar-linked bonds maturing at the end of the month, Argentine sovereign bonds fell by over 1%. This decline pushed the country risk index up by 22 units to 555 basis points, reaching levels not seen since May.