Economy / Argentina
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CDS: Short-Term Compression Ahead
July 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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We believe that decision by Argentine President Cristina Fernández to rescind the sliding-scale export tax will be welcomed by investors. We had previously argued that a moderation in Fernández' hardline policy stance would be positive for Argentine assets. As such, the decision to withdraw the tax rather than try to push ahead regardless, while widely expected, can be seen as a step in the right direction (or more importantly, not a major step in the wrong direction). Argentina's