13 August 2010

ARGENTINA: May Postpone Debt Sale Again As Yield Soars On Less Risk Appetite.

BLOOMBERG/     Argentine yields are soaring, with their biggest increase in more than a month, as investor appetite for riskier assets sinks. It means that the government may again postpone plans to sell up to $1 billion worth of 2017 bonds as part of Argentina’s restructuring of $12.9 billion in defaulted debt as it did in June. It's yield on 8.75 %bonds due in 2017 surged 36 basis points, or 0.36 percentage point, from Aug. 10 to 12, the biggest two-day jump since the end of June, to 9.95%.  Economy Minister Amado Boudou said on 4 Aug. that the country has “no financial urgency” to sell bonds and that it will do so when “it’s good for Argentina, not because it’s good for creditors.”