A last minute deal from a private Argentina bank may avert an Argentine government default on its bonds, if the holdout creditors accept their less than desired terms. Other countries may follow Argentina’s default lead In an unusual last minute drama twist, a former Argentine Economy Minister, Sebastian Palla, is reported as offering to purchase the holdout hedge fund’s positions on behalf of a consortium of Argentine institutional investors, in a bid to avert a default and potentially a nasty international incident. As previously reported in ValueWalk, Argentina defaulting and then receiving financing from China and sources alternative to the…
As Argentine Banker Delivers Proposal, Will Holdouts Bend?
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.