January 2014 Analysis

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Market Strategy - Yield Spike Not A Sign Of Investor Flight - 27 JAN 2014

Argentina's restructured sovereign debt has sold off in the past week, in the wake of a large sale of government bonds by state pension fund ANSES to prop up the peso, but we do not believe this development constitutes a fundamental re-pricing of the risk involved in investing in Argentine government assets. Admittedly, the yield on Argentina's 2033 global US dollar-denominated bond has spiked...

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