The dust has settled and the International Swaps and Derivatives Association (ISDA) has formally declared the government of Argentina is in default of its bond obligations. ISDA the only officially sanctioned organization to declare Argentina’sdefault Although other organizations such as Standard and Poors were reported to have said Argentina was in default, ISDA is the only officially sanctioned organization to declare such a default that results in a payment of Credit Default Swaps (CDS) insurance. Such CDS insurance is a significant concern among knowledgeable market participants because the large banks and major financial institutions have issued sometimes seven to ten times…
ISDA Makes It Official: Argentina in Default
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.