Argentine Risk Compression Likely to Continue
The fall of the price of CDS for Argentina’s sovereign debt is likely to continue as global headlines favor additional compression. With the CDS for the country’s 5-year trading around 650bp, the risk premium has seen a rise since the beginning of the year, when it had fallen as low as 532bp after trading as high as 4216bp in November 2008. Still, investors and analysts say the price could have further to fall. “The likelihood that Argentina would be defaulting in the short to medium term is very very low,”...
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