◀ The Principal Blog

Posts tagged ‘sovereign debt’

Vultures, a Ship, and RUFO: The Weird Tale of Argentina’s Latest Default



Last week, Argentina fell in default…again. Argentina last failed to make payments on its sovereign debt obligations in 2001, to the tune of $80 billion. Market reaction outside of Argentina to the most recent stumble was generally muted.  The U.S. stock market was down last week, but mostly…

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Moody’s Downgrades the UK: Keep Calm and Carry On



If you want Aaa-rated government debt, you’ll have to go looking to Canada, or Australia, or Germany, because late last week, ratings agency Moody’s officially downgraded the United Kingdom’s government bond rating from Aaa (their highest level) to Aa1 (their second highest level).…

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