Bond Traders Are Already Betting on Argentina’s Next Default
- Bonds to trade at about 12% after debt restructuring finished
- The market’s message: Argentina overpaid creditors in the deal
Economy Minister Martin Guzman
Photographer: Erica Canepa/BloombergThis article is for subscribers only.
In the next few weeks, if all goes as scripted, Argentine officials will put the finishing touches on a bond restructuring deal and bring an end to the ninth default in the country’s history.
Bond traders are already bracing for the 10th.