Mr. Macri will use the money, $1.3 million, to buy Argentine treasury bonds, a vote of confidence that the country’s economy will rebound.
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A World of Debt
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Scoop.it!
by Raoul Ruparel
Open Europe May 25, 2016 The Eurogroup yesterday reached an agreement on releasing further bailout funds to Greece as well as a partial agreement on debt relief. 
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The Supreme Court's refusal to consider an appeal to uphold Argentina's debt restructuring could undermine the system of cross-border debt.
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Egypt's surging budget deficit has hit its limit and the Oil Ministry has decided to cut its $20bn plus fuel subsidies. The result - mainstream fuel prices by up to 78% from midnight on Friday.
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With Argentina's payment to the holders of its restructured debt on June 30th in limbo at the Bank of New York Mellon, blocked by Federal Judge Thomas Griesa, and the 30 day grace period to official default ticking away, financial pundits have...
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Submitted by Charles Hugh-Smith of OfTwoMinds blog,
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With even the most compromising politicians on both sides of the aisle admitting at least a brief government shutdown is inevitable (and according to Stone McCarthy the shutdown will hardly be brief and will affect the timely release of such major...
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When Goldman says sell, everyone knows they really mean buy.
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The current external environment and consequence of past policies are limiting options for EM nations (most specifically Indonesia and India).
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Intra-stock correlation of the top 50 market cap names has plunged in the past month.
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Back in May 2011, together with forecasting Japan's most epic case of quantitative easing ever unleashed, we presented the absurd, if inevitable, thought experiment of a country that would soon cross into the twilight zone of total sovereign debt...
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That S&P500 revenues are contracting for the second quarter in a row (i.e. a revenue recession) is by now well-known even to CNBC.
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The financial world is abuzz with the unexpected jump higher in our manufacturing and non-ISM(s). The world seems to think these two jumps are the result of the US economy suddenly getting back on track.
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The island defaulted on most of a $422 million debt payment and congressional aides said a revised rescue package would be introduced next week.
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UPDATE: Damage Control Spin begins...
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Update: just as expected, the confidence-preservation brigade is quick on the scene: HUNGARY LOAN-REFUND LAW VIOLATES RULE OF LAW: BANK ASSOCIATION HUNGARY LOAN-REFUND LAW DAMAGES INVESTOR CONFIDENCE, BANKS SAY Because clearly marking loans to...
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As the US spreads its message of cheer around the world, it appears an increasing number of trade 'partners' are more than willing to consider alternatives to the hegemony.
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Presented with no comment (except to note how different the "fact" in this chart is from the "fantasy" we hear spewed day after day about 'recovery' in the world's economy)...
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Yves here. Some technology enthusiasts predict that as many as 47% of current jobs will be displaced in the next decade.
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Yesterday afternoon, Russia agreed to restructure Cyprus' EUR 2.5 billion loan terms to a much more affordable 2.5% semi-annual coupon through 2016 and a principal re-payment over the following four years.
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Submitted by F.F. Wiley via Cyniconomics blog, You may be aware that the Congressional Budget Office (CBO) is due to release its 2013 Long-term Budget Outlook in September. In “Previewing the Bad News That’s Likely to Complicate the Debt Ceiling...
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Via Citi FX Technicals,
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The JGB market was completely unfazed by the news that the prime minister’s office was reconsidering the planned consumption tax hike.
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Japan has receded from the headlines of late but that's about to change. In the next two months, it's expected the Prime Minister Shinzo Abe will make a decision on whether to increase Japan's consumption tax from 5% to 8% in April next year.
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Submitted by Brandon Smith of Alt-Market Is Egypt On The Verge Of Engineered Civil War? For thousands of years, Egypt has been one of the primary pillars of the Eastern world.
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