NML capital and other Argentina bond holdouts are opposing a request from euro-denominated bond holders for a stay in the Argentina debt case, according to a court filing cited by Reuters. I wrote about the request yesterday.
The market is focused on the Fed but the drama in Argentina is playing out in the background. The market is still optimistic with Argentine stocks opening up 7% but that’s a lot of fast money in a dicey position and it could change on any headline.
This development makes a default more likely but it’s extremely complicated.
