Macroeconomy/Finance

Buenos Aires Province debt talks slam one of world’s best bonds

Buenos Aires Province’s plan to negotiate with creditors debt payment due this month has torpedoed one of the world’s best bond rallies. The province’s $500-million of notes due in January 2021 tumbled 5.3% Wednesday to $0.64, their worst day in more than four months. The securities had returned 54% from the end of August through Tuesday, putting them among the top performers in emerging markets.

Source: Buenos Aires Times