Argentina Bonds Fall to a Three-Week Low After Debt Talks Stall

Argentina’s dollar-denominated bonds slipped to their lowest level in three weeks after restructuring talks stalled amid growing animosity between officials and some of the country’s top creditors, Bloomberg News reported. The bonds, which had rallied over the past month on optimism creditors and the government were nearing a deal, fell after the two sides said they were at an impasse. Dollar bonds due 2026 dropped 2 cents to 37.7 cents on the dollar as of 8:49 am New York time, their lowest level since May 28. Officials and creditors failed to find common ground after two bondholder groups submitted an offer earlier this week, according to people familiar with the matter. Argentina and the Ad Hoc Bondholder Group published statements late Wednesday that pointed to the increasing tension between the parts, with creditors calling the talks a “failure.” Read more