Pres. Cristina Fernandez said her government will move its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law.» Read More
District Judge Thomas Griesa told lawyers at Cleary Gottlieb, which represents Argentina, that the country has made several false, misleading statements after he ordered the nation to stop doing so last week. Argentina and holdout hedge funds that were awarded $1.33 billion plus interest by Griesa have been unable to come to a settlement.
District Judge Thomas Griesa could suspend his ruling that orders Argentina to pay in full New York hedge funds before it resumes payments on a separate stock of bonds on which Buenos Aires is now considered by financial markets to be in default.
In a further twist in the long-running sovereign debt dispute that has pushed Argentina once again into default, these so-called "other" holdouts said in a court filing late Thursday that the $539 million deposit that Argentina made to its indentured trustee, BNY Mellon, should go toward satisfying their U.S. court-awarded claims.
BUENOS AIRES, Aug 6- The U.S. judge in charge of Argentina's debt default case on Wednesday ordered Bank of New York Mellon to hold on to money deposited by the government rather than disburse the funds to holders of the country's restructured bonds.
NEW YORK, Aug 6- Holdout creditors are considering an offer from international banks of 80 cents on the dollar for their roughly US $1.66 bn holdings of Argentine debt, sources close to the negotiations said on Wednesday.
BUENOS AIRES, Aug 5- Argentina said on Tuesday it will formally demand that intermediary banks charged with delivering the country's debt payments make hundreds of millions of dollars in payouts that were due in June but that have been blocked by a U.S. court.
SYDNEY, Aug 6- The dollar held near an 11- month high against a basket of major currencies early on Wednesday, having got a second wind after upbeat U.S. data bolstered expectations of solid economic growth in the third quarter. The euro languished at $1.3370, having plumbed a nine-month trough of $1.3358.
SAO PAULO, Aug 5- A Brazilian-based investment fund managed by Bank of New York Mellon Corp had to write down more than half of the value of its assets due to losses in investments linked to Argentine government debt, according to a securities filing.
WASHINGTON, Aug 5- U.S. regulators on Tuesday told banks to come up with better living wills, inching a step closer to taking action if these plans to avoid taxpayer bailouts during a future crisis were still deficient next year.
*Asia hit by unexpected weakness in China services PMI. *Wall Street expected to fall at open. The three main futures indices on Wall Street pointed to a softer open on Wall Street before a survey of the U.S. non-manufacturing sector that could help show how fast the world's biggest economy is expanding.
*European shares rise, shrug off Asia weakness. *Asia hit by unexpected weakness in China services PMI. Investors were cheered by strong results from German luxury carmaker BMW and France's third biggest listed bank Credit Agricole, among others, enabling European equities to buck the trend in Asian markets which were hit by weak Chinese data.
LONDON, Aug 5- The euro headed back below $1.34 on Tuesday after a survey of Italian service sector purchasing managers disappointed on the low side, while a surprise bounce for equivalent numbers in Sweden drove the crown higher. "It certainly has reacted negatively to the Italian numbers," said Neil Mellor, a strategist with Bank of New York Mellon in London.
NEW YORK, Aug 1- Trustees involved in JPMorgan Chase& Co's proposed $4.5 billion settlement with investors in money-losing mortgage bonds accepted the bank's offer on Friday for the vast majority of the trusts holding the securities.
In a court hearing, Griesa told lawyers for Cleary Gottlieb, which represents Argentina, to "take steps to stop the misleading information being released by the Republic" regarding the battle between investors and the country.
NEW YORK, July 31- A long-predicted dollar rally appears at last to be taking hold, with the greenback ending July with its best monthly performance in 17 months and investors positioning for the first post-crisis U.S. interest rate increase.
BUENOS AIRES, July 31- Argentina's bond and stock markets and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years after the failure of last-ditch talks with holdout creditors.
*Yield curve steepens from five-year lows. NEW YORK, July 31- Most U.S. "There is some month-end buying, both here and in Europe," said Dan Mulholland, managing director in Treasuries trading at BNY Mellon in New York.
BUENOS AIRES, July 31- Argentina's main government bond, stock market and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years following the failure of last-ditch talks with holdout creditors.
*Yield curve steepens from five-year lows. NEW YORK, July 31- U.S. "There is some month-end buying, both here and in Europe," said Dan Mulholland, managing director in Treasuries trading at BNY Mellon in New York.
BUENOS AIRES, July 31- Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, as focus turned to whether big banks and funds would request the declaration of a "credit event".