Argentine stocks opened Tuesday’s trading with a drop. The Merval index started the day 0.9 percent down, falling to 3,860.02 points, following the announcement of a bill submitted to Congress by President Cristina Fernández de Kirchner and which aims at reopening debt swap for international creditors.
New York-law bonds, instead, continue to climb with traders echoing both Friday’s ruling by Judge Thomas Griesa in favor of vulture funds -fighting Argentina in a 1.3 billion dollar legal dispute over the South AMerican country’s defaulted bonds more than a decade ago-, and the government-sponsored project for a new debt swap.
Source: Buenos Aires Herald