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S&P Is Going To Go Ahead And Call This A "Selective Default" For Argentina

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But Goldman Sachs says it's okay.

Argentina will probably cure the default in the next few days if an accord is reached, according to Goldman Sachs Group Inc. “An Argentina default is expected to be short-lived at this point and shouldn’t have any major implication for the country,” said Mauro Roca, a senior Latin America economist at Goldman Sachs in New York. “There’s the expectation that a deal with holdouts will be worked out soon.”

S&P Downgrades Argentina to Selective Default [WSJ]
Argentina Defaults According to S&P as Debt Talks Continue [Bloomberg]
What Happens Now That Argentina Is in 'Selective Default' [BusinessWeek]


By Leandro Kibisz (Own work) [Public domain or CC BY-SA 3.0], via Wikimedia Commons

Bond Market: Argentina’s 2014 Default Was Like A Hundred Years Ago

So let’s buy some 100-year-bonds from the formerly uniquely recalcitrant debtor.