Sunday, 29 March 2015
Last updated 2 days ago
Jul 31 2014 | 12:32pm ET
Argentina’s default yesterday is not good news for its bondholders, and it might not be good news for those betting it would happen, either.
There are some $20.7 billion in outstanding credit default swaps on Argentine sovereign debt, according to the Depository Trust & Clearing Co. But even though the country failed to make its $539 million debt payment by yesterday’s deadline—after failing to reach accord with hedge-fund holdouts from is last default 13 years ago—hedge funds expecting the default might not get paid for some time, if at all.
Standard & Poor’s Ratings Service has declared Argentina in default. But the CDS won’t pay out unless the International Swaps and Derivatives Association concurs. A ruling could come within a few days.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…