Geopolitics

Argentine bonds take it on the chin after IMF green light

Argentine bond prices fell 1.3% on Thursday after an IMF technical mission essentially gave the government a green light to restructure about $100 billion in bonds and loans, including $44 billion owed to the IMF. Argentine bond prices are down 4.8% so far this year. Country risk spreads 11EMJ stood 82 basis points wider at 2,117 over safe-haven U.S. Treasury paper, indicating an increase in the perceived likelihood of default.

Source: Reuters