NEW YORK (Reuters) – The U.S. dollar surged to fresh multiyear highs on Friday after a stronger-than-expected November U.S. jobs report increased expectations the Federal Reserve would begin raising interest rates sooner than currently expected.
Employment grew at its fastest pace in nearly three years in November and wages rose, the latest U.S. employment report showed. Nonfarm payrolls rose by 321,000, better than forecasts for an increase of 230,000.
NEW YORK (Reuters) – Highland Capital Management, a relative newcomer to Argentina’s sovereign debt crisis, placed a hefty bet on a resolution early in the new year by putting more than a quarter of its Global Allocation fund into the country’s bonds.
The fund’s concentration in Argentine debt is the largest, by far, compared to any other single U.S.-domiciled fund investing in the Latin American nation’s restructured bonds, according to data from Lipper, a Thomson Reuters service.