Report

ARGENTINA: Heading towards default but settlement window may not be closed

Alan Brazil, Nicholas Watson, SOM Macro Strategies

Teneo
May 21, 2020

The 30-day grace period on a USD 503mn interest payment on three bonds expires tomorrow, 22 May. Failure to pay would result in Argentina’s ninth sovereign default. At this stage, it would be a big surprise if a default is avoided. The government has indicated that it will not ma...

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SOM Macro Strategies

SOM Macro Strategies was founded by former Goldman Sachs strategist Alan Brazil after leaving the firm to independently publish his State Of the Market (SOM) reports. The SOM reports reflect the results of fundamental economic analysis of macro themes that are likely to reprice across asset types and markets. This framework helps to identify strategies that provide investors with asymmetric returns with high expected Sharpe ratios.

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