Argentina government will market its $12.5-billion bond offer in North America by organizing road shows in New York, Washington and Los Angeles. The $12.5-bln bond offer will be marketed in the US and the UK.
A unit of China's Guosen Securities in Hong Kong have defaulted on a dim sum bond. However, analysts doubted the default as the brokerage is in a strong cash balance.
Argentine President Cristina Fernandez on Monday will meet bondholder and billionaire financier George Soros, who is suing a U.S. bank caught in the middle of the country's latest debt default, a government minister said.
Argentina called in the United States' top diplomat in the country on Tuesday to express its "deep indignation" over a local newspaper interview in which he made reference the South American country's latest debt default.
Hedge funds are now entering the municipal debt market, finding a veritable gold mine in value but may provide more problems in the long run as to the temporary nature of the investments.
In a filing with the US Supreme Court, Argentina seek stay of payment order issued by lower court.
If the US fails to pass legislation to increase the debt limit, then the global economic system would be tremendously affected.
Iconic five star hotel The Savoy would be in danger of defaulting on its loan obligations should its business revenues do not improve.
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