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Jul 24, 2014

Argentina, holdouts meet in debt dispute with court appointee

NEW YORK, July 24 (Reuters) – Representatives for holdout
investors and Argentina in the country’s ongoing debt default
met for about three hours with a court-appointed mediator in New
York on Thursday, less than a week before Argentina could once
again default.

Several members of Argentina’s delegation left the Manhattan
office of special appointee Daniel Pollack around 3:30 p.m. EDT
(1930 GMT) but declined to comment on the talks. Edward
Friedman, a lawyer for Aurelius Capital Management, one of two
leading holdouts, emerged shortly after, also without
commenting.

Jul 24, 2014

Exclusive: Holdouts not asking to suspend Argentine debt order – Aurelius

NEW YORK (Reuters) – Argentine debt holdout investor Mark Brodsky refuted a story in Argentina’s La Nacion newspaper suggesting his group, which is negotiating a settlement with the government, will ask a U.S. judge to suspend his payment order ahead of a July 30 deadline.

Brodsky is the chairman of Aurelius Capital Management, one of the lead holdout investors in the case which awarded them $1.33 billion plus accrued interest. Argentina was ordered to pay the holdouts at the same time it paid bondholders who accepted an exchange, or restructuring, of defaulted debt in 2005 and 2010.

Jul 24, 2014

Holdouts not asking to suspend Argentine debt order -Aurelius

NEW YORK, July 24 (Reuters) – Argentine debt holdout
investor Mark Brodsky refuted a story in Argentina’s La Nacion
newspaper suggesting his group, which is negotiating a
settlement with the government, will ask a U.S. judge to suspend
his payment order ahead of a July 30 deadline.

Brodsky is the chairman of Aurelius Capital Management, one
of the lead holdout investors in the case which awarded them
$1.33 billion plus accrued interest. Argentina was ordered to
pay the holdouts at the same time it paid bondholders who
accepted an exchange, or restructuring, of defaulted debt in
2005 and 2010.

Jul 18, 2014

Holdout says Argentina bent on default as debt deadline looms

BUENOS AIRES/NEW YORK, July 18 (Reuters) – A lead holdout
investor in Argentina’s debt row said on Friday the South
American country seemed determined to default, after market
gossip of a possible breakthrough sent Argentine bonds higher.

NML Capital Ltd, a unit of Elliott Management Corp suing for
full repayment on its bondholdings, said Argentine officials
refused to meet or negotiate ahead of a July 30 deadline.

Jul 18, 2014

Destroyed jet, sanctions to drive more money to Latam, Asia

NEW YORK (Reuters) – The downing of a Malaysian passenger jet over eastern Ukraine on Thursday is likely to keep fixed income investors shunning Russia, and eastern Europe more broadly, in favor of other emerging markets.

The eruption of conflict earlier this year over Ukraine’s borders and subsequent economic sanctions against Russia has caused a sharp drop-off in corporate debt issuance from Eastern Europe, including Russia, and massive capital flight from that country.

Jul 18, 2014

Safety trade intact for U.S. Treasuries on geopolitical tensions

NEW YORK, July 18 (Reuters) – U.S. Treasuries held steady on
Friday, taking in stride a weaker-than-expected U.S. consumer
sentiment survey and holding onto the safe-haven flows stemming
from the escalation of tensions in Ukraine and Israel in the
last 24 hours.

The preliminary July Thomson Reuters/University of Michigan
reading of consumer sentiment showed an index dropping to 81.3,
below both the consensus analyst expectation of 83 and the final
June read of 82.5.

Jul 17, 2014

Safe-haven buying of US bonds after jet downed in Ukraine

NEW YORK, July 17 (Reuters) – U.S. Treasury prices rose on
Thursday as investors sought a safe haven after news a Malaysian
passenger plane came down over eastern Ukraine, an area of
increasing conflict between the government and pro-Moscow
rebels.

The move up in prices resulted in yields on the benchmark
10-year Treasury falling in their steepest one-day drop since
early February, according to Reuters data.

Jul 17, 2014

Weak housing data spurs more buying of U.S. Treasuries

NEW YORK, July 17 (Reuters) – U.S. Treasuries rose on
Thursday after disappointing U.S. housing data showed the
slowest pace of groundbreaking in nearly a year, driving yields
lower and reinforcing a view that U.S. monetary policy will
remain loose well into 2015.

Investors bid up Treasury prices following the data,
extending earlier gains but not enough to break out of recently
tight trading ranges.

Jul 16, 2014

U.S. judge to hear latest motions in Argentina debt case July 22

NEW YORK (Reuters) – A U.S. judge said in New York on Wednesday that he would hear arguments next Tuesday related to the banks and payment agents caught up in Argentina’s sovereign debt case as a potential default looms at the end of the month.

U.S. District Judge Thomas Griesa has received motions from the Bank of New York Mellon , the indentured trustee that currently holds a deposit from the government of $539 million in its account at the Central Bank of Argentina, on what it should do with the money.

Jul 16, 2014

U.S. 10-year yields edge lower in range-bound trade

NEW YORK, July 16 (Reuters) – U.S. benchmark Treasury yields
edged lower on Wednesday, slipping back from an early boost
delivered after data suggesting the world’s largest economy is
on solid footing.

Higher-than-expected June producer price index data was
balanced against data showing a lower-than-expected increase in
June industrial production.

    • About Daniel

      "I'm a New York-based global investment correspondent with over 20 years of experience covering financial markets, business and foreign policy. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught business and economic journalism from Asia, Europe, Latin America and the United States. Prior to joining Reuters I was a producer at CNN Business News in New York."
      Joined Reuters:
      1997
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