John Plender

01/08/2017
Argentina Financial Times - Reino Unido Mercados John Plender

Lessons for devotees of this epic bull run in stocks

Yet it is in the debt markets that risk appetite seems sharpest. Debt covenants everywhere are weakening and emerging market debt is being valued on a basis that appears to ignore that emerging markets are places where stuff happens. The stuff has a nasty way of leading to defaults. Yet Argentina, a serial defaulter, was able in June to issue a 100-year bond despite having defaulted as recently as 2014.
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