Aug. 1, 2014, 2:18 PM
- The International Swaps and Derivatives Association declared Argentina in default, a move which could trigger up to $1B on credit default swaps. Next up is an ISDA auction to settle outstanding CDS deals.
- Argentina bonds extended losses after the ISDA action, and the Global X Funds Argentina ETF (NYSEARCA:ARGT) is off 2.1% on the session.
- A selection of ADRs: Alto Palermo (APSA), Banco Macro (BMA -2.4%), BBVA Banco Frances (BFR -1.4%), Edenor (EDN +2.3%), Pampa Energia (PZE +0.1%), Telecom Argentina (TEO -0.6%), Tenaris (TS -0.1%), Ternium (TX -0.7%), YPF (YPF -0.9%).
Jun. 16, 2014, 6:19 PM
- ADRs of oil and gas explorer YPF, bank BBVA and Latin America-focused wireless firm NII Holdings (NASDAQ:NIHD) fell sharply today in reaction to a setback for Argentina's defaulted bonds which sent the country's markets reeling, taking select U.S.-listed stocks lower.
- The U.S. Supreme Court today left intact rulings that may force Argentina to pay billions of dollars to holders of repudiated bonds, rejecting an appeal in a case that has blocked the country from international debt markets for more than a decade and could prompt the government to default for a second time in 13 years.
- YPF -11.9%, BBVA -0.8%, NIHD -11.3%, END -14.5%, TGS -10.6%, PZE -8.3%, GGAL -8.1%, PAM -6.6%, APSA -4.2%, NTL -3.3%.
- ETF: ARGT
Feb. 1, 2013, 7:37 AM