Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)
Learn moreThe "trial of the century" in sovereign debt restructuring, in our humble opinion. The story of Argentina, its holdout creditors, the grande finale (or is it?) of their battle in US courts.
They’ve become interesting side-players in the saga principally starring Argentina — so it’s probably worth noting the latest from these two Caribbean sovereigns…
Belize has closed its restructuring with 86 per cent approval by its creditors: Read more
Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)
Learn moreThe "trial of the century" in sovereign debt restructuring, in our humble opinion. The story of Argentina, its holdout creditors, the grande finale (or is it?) of their battle in US courts.
Update (Feb 26) – It turns out that we failed to be clear on something pretty important here… rendering our headline ironically pretty apt. Maybe you really can’t believe Belize’s disavowal of ratable payment on its bonds.
OK, so here’s the section on pari passu language in the new bonds’ Offering Memorandum: Read more
Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)
Learn moreLatin American country tells creditors they can’t be serious…
While acknowledging that the Committee’s counter-proposal provides a degree of short-term cash flow relief, the GoB considers it to be wholly incompatible with its objective of placing the country’s debt burden on a sustainable footing – a goal that the Committee itself has indicated it is committed to at various stages. The GoB believes that the counter-proposal ignores Belize’s high overall debt levels, and that it amounts to little more than a short-term fix not dissimilar to the 2007 exercise. Read more
| Market | Last price | Today's change |
52 week high |
|
|---|---|---|---|---|
| FTSE 100 Index: FSI As of May 17 2013 16:35 |
6,723 | +35.26 | +0.5% | 6,727 |
| FTSEurofirst 300 Index: FSI As of May 17 2013 17:15 |
1,248 | +2.73 | +0.2% | 1,250 |
| S&P 500 INDEX: WCB As of May 17 2013 05:00 |
1,667 | +17.00 | +1.0% | 1,667 |
| Euro/US Dollar FX Spot Rate As of May 17 2013 21:59 |
1.28 | 0.00 | -0.3% | 1.37 |
| ICE Brent Crude Oil Front Month: IEU As of May 18 2013 00:00 |
104.64 | +0.79 | +0.8% | 119.17 |
| COMEX GOLD 1 FUTURES CHAIN Front Mon: CMX As of May 17 2013 19:14 |
1,361 | -26.10 | -1.9% | 1,795 |
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