Argentina’s Cheapest Bonds Are Most Resilient in Default
This article is for subscribers only.
Argentina’s lowest-priced bonds are holding up the best following the country’s default last month.
The South American nation’s notes maturing in 2038, known as Par bonds, have lost 6.5 percent to 52.88 cents on the dollar since the government was blocked from making a payment on its debt last month. That compares with a 11.6 percent plunge on its notes due in 2033 and an 8.3 percent rout on securities that mature in 2017.