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Warrants Rallying as Argentine GDP Growth Spurs RBC, JPMorgan to Say `Buy'
Bloomberg
July 25, 2010

Argentine government securities linked to the nation's economic growth have become a "buy" to JPMorgan Chase & Co. and RBC Capital Markets even after a two- month rally drove their value up to the highest since November.

The warrants, which pay holders when the expansion exceeds government projections, jumped to 9.4 U.S. cents on July 23 from 6.8 cents at the end of May after the statistics institute said growth quickened to its fastest pace in six quarters in the January-through-March period. This month, JPMorgan raised its 2010 expansion forecast to 8.5 percent, which would be the most since 2007, as commodity exports and government spending rise.

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