Curva de Rendimiento AR | Argentina Yield Curve

Real-time Argentine fixed-income yield curve terminal. Four curve families plotted on a single canvas with Nelson-Siegel smoothing.

🔵 **LECAP** — 9 discount letters (Letras de Capitalización) via EcoValores library
🟢 **BONCAP** — 6 capitalisation bonds via EcoValores library
🟠 **BONCER** — 7 CER-adjusted zero-coupon bonds (TZX series) with inflation-projected yields
🟡 **Dollar Futures** — 12 MatbaRofex contracts with implied devaluation spread

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**How it works**

Add the indicator to any daily chart — the underlying symbol doesn't matter. All prices are fetched independently via `request.security()`. Yields are computed on a **T+1 settlement** basis (Plazo 24hs) and can be displayed as **TEM**, **TNA**, or **TEA**.

BONCER yields are projected by compounding a hardcoded valor técnico (VT) at a reference date forward to maturity using a monthly CPI assumption. CPI can be set manually or pulled live from `ECONOMICS:ARIRMM`.

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**Features**

• **Nelson-Siegel curve fitting** with configurable λ grid search
• **Broker fee adjustment** (% of purchase price) on LECAP, BONCAP, and BONCER yields
• **Historical ghost curves** — overlay the curve from N bars ago with faded, color-matched dots and ticker labels
• **BCRA auction markers** — show cut rates from the last 1–3 licitación dates, with overlap grouping
• **Implied devaluation curve** — spread between Dollar Futures and LECAP Nelson-Siegel fits
• **Curve slope** — long minus short rate from the LECAP NS fit
• **Instrument data table** — optional per-bond breakdown showing yield, price, face, maturity, and days to maturity
• **DTM vertical lines** — dashed lines at each instrument's tenor, color-matched to curve type
• **Info table** — summary stats, NS parameters, USD spot rate, and legend

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**Inputs**

Curve Selection — toggle each curve family and the Nelson-Siegel fit independently
BONCER CER Projection — set projected monthly CPI % or enable ECONOMICS:ARIRMM live feed
Rate Convention — TEM / TNA / TEA selector and broker fee %
USD Spot Rate — MEP via AL30/AL30D arbitrage, FX_IDC:ARSUSD, or manual entry
BCRA Auctions — show 0–3 most recent licitación dates (hardcoded, update periodically)
Historical Comparison — ghost curve bars-ago offset and optional NS fill
Derived Metrics — slope and implied devaluation toggles
Visual — canvas width, max tenor, ticker labels, DTM lines, data table, label size
Nelson-Siegel Tuning — λ grid range and steps (defaults work for most cases)

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**Maintenance**

Two data sets require periodic manual updates:

1. **BCRA Auctions** — add `array.push()` entries under the "BCRA AUCTION DATA" section with TEM yield, maturity date, label, and licitación timestamp.
2. **BONCER Valor Técnico** — update `CER_VT_REF_TS` and each `CER_VT_*` value from bonistas.com or your broker's daily report.

Both follow the same pattern: edit the hardcoded values in the script and save. Expired instruments are filtered automatically.

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**Data sources**

LECAP / BONCAP prices and metadata: `EcoValores/Letras_Library/1`
BONCER prices: `BCBA:TZXM6`, `BCBA:TZX26`, `BCBA:TZXO6`, `BCBA:TZXD6`, `BCBA:TZX27`, `BCBA:TZXD7`, `BCBA:TZX28`
Argentina monthly CPI: `ECONOMICS:ARIRMM`
USD spot: `BCBA:AL30` / `BCBA:AL30D` or `FX_IDC:ARSUSD`
Dollar Futures: MatbaRofex contracts via EcoValores library

Total `request.security()` calls: 38 (limit ~40).

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**⚠️ Disclaimer**

This indicator is provided for **informational and educational purposes only**. It does NOT constitute investment advice, a recommendation, or an offer to buy or sell any security. BONCER yields are projections based on assumed future inflation and may differ substantially from realized returns. Data may be incomplete, delayed, or inaccurate. The authors assume no responsibility for any financial losses or decisions made based on this indicator. Always consult a licensed financial advisor before investing.

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Curva de rendimiento de renta fija argentina en tiempo real. LECAP, BONCAP, BONCER cupón cero y Futuros de Dólar con ajuste Nelson-Siegel. Rendimientos calculados en base T+1 (Plazo 24hs). Soporta TEM, TNA y TEA, comisión de broker, marcadores de licitaciones BCRA, curvas históricas fantasma, devaluación implícita y tabla de datos por instrumento.