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Bloomberg - Opinion

Helicopter money won’t ease Latin America’s pandemic pain

08-05-2020 09:25 Along with Covid-19, a fever of wonkery has broken out over how to reverse the collective economic contraction and to carry on once the health emergency has passed. As the worst of the pandemic is yet to come.

by Mac Margolis

BLOOMBERG

Pandemic awakes new customer base for Latin America's e-commerce giants

30-04-2020 17:55 The coronavirus pandemic is reshaping consumer habits in Latin America, sending droves of buyers online for the first time.

Bloomberg

Greenback dealers on motorbikes deliver a cash lifeline in Argentina

28-04-2020 23:41 After decades of defaults, currency crises, high inflation and volatile politics, men yelling “exchange! exchange!” in downtown Buenos Aires became part of the city’s fabric. Amid the coronavirus pandemic, though, no-one is selling on the streets. Instead they’re delivering to customers’ homes.

BLOOMBERG – ANALYSIS

Argentina makes opening move in debt talks

17-04-2020 01:12 The highlights: a three-year moratorium, a 62 percent reduction in interest payments and a five-percent cut in the value of the principal.

Bloomberg

Argentina, Brazil in talks to flush dam water into Paraná River

16-04-2020 08:26 Governments in talks to release water from the giant Itaipú Dam with a view to topping up the Paraná River, where ebbing levels are stymieing a US$20-billion-a-year crop export business.

BLOOMBERG – ANALYSIS

Fragile Latin America faces another lost decade – and maybe worse

07-04-2020 17:29 Like most of the world, the region is bracing for the deepest recession in its modern history. Bank of America expects a 4.4% slump in output this year as the coronavirus epidemic spreads.

Bloomberg

Top Trump official eyed for Inter-American Development Bank

17-02-2020 08:08 Mauricio Claver-Carone, the senior director of the NSC for Western Hemisphere Affairs, is being considered for the executive vice-president’s job at the IDB, according to reports.

Bloomberg

Hedge funds join forces to prepare for Argentina debt talks

14-02-2020 19:06 Monarch Alternative Capital LP is spearheading a group of hedge funds organising ahead of debt restructuring talks with Argentina, according to Bloomberg.

DEBT RESTRUCTURING

Creditors BlackRock, Fidelity form bondholder group ahead of debt talks

12-02-2020 23:42 Money managers including BlackRock Inc. and Fidelity Investments have launched a committee focused on Argentina's sovereign debt crisis, Bloomberg revealed Wednesday.

BA PROVINCE DEBT TALKS

BA Province surprises with plan to pay bond, and then restructure

04-02-2020 16:36 Axel Kicillof declared that the province will use its proper resources in order to realise a US$250 million bond payment to avoid default. The Governor looks to reassure creditors about Buenos Aires ability to honour its debt.

Bloomberg

Malbec-soused bonds offer haven for hard-hit investors

29-01-2020 14:55 Amid the junk-rated moonscape that is most of Argentina’s debt, Mendoza’s bonds due in 2024 have returned 6.2 percent since January 1, trouncing all other government and corporate notes.

SHOCKING VIDEO

Dead lamb swimming-pool plunge sparks anger in Argentina

17-01-2020 08:04 Scandalous video showing lamb being dropped from helicopter to a swimming pool of home rented by Etiqueta Negra clothing line founder Federico Álvarez Castillo sparks anger – and debate.

Bloomberg

Peso to weaken against dollar even more, says top forecaster

16-01-2020 07:44 Analyst predicts peso may reach 100 per greenback by end of the year – a 40 percent decline from the official rate now.

BLOOMBERG

Banco Nación will fight Vicentín debt restructuring

03-01-2020 14:07 Officials at state-owned bank have told agricultural company it needs to raise cash now. They’re also investigating a loan made to the company for irregularities, according to reports.

BLOOMBERG

US warns Argentina that IMF deal is threatened by ties with leftist allies

02-01-2020 21:03 Senior Trump administration official tells Bloomberg that sheltering Evo Morales and engaging with Nicolás Maduro crosses a red line – and it could cost Argentina investment in the Vaca Muerta shale fields.

Bloomberg

China consortium close to buying Argentine power unit

11-12-2019 10:29 Led by China Huadian Corp, consortium now close to acquiring a controlling stake in Stoneway Group LP, Bloomberg reports.

BLOOMBERG - OPINION

John Authers: Trump doesn’t understand currency wars, either

02-12-2019 22:47 Any implication that Argentina is deliberately weakening its currency for competitive advantage is beyond absurdity.

BLOOMBERG

Civil unrest haunts those who remember Latin America’s juntas

19-11-2019 13:46 Unrest in the region is putting soldiers back into the public eye.

BLOOMBERG

Argentina’s banks cut trading desk jobs after market plunge

05-11-2019 10:17 Banks have been shrinking size of their trading desks in Argentina after the rout sparked by the August 11 PASO primary election.

BLOOMBERG

Investor warns narrow path for Argentina to avoid 'vulture' funds

04-11-2019 08:58 Alberto Fernández risks a repeat of the 2001 debt crisis that led to a messy 15-year legal battle with creditors unless he can quickly restructure US$50 billion of bonds, warns Delta Asset Management's Christian Cavanagh.

BLOOMBERG

Fine print on Argentine bonds becomes crucial as default fears grow

01-11-2019 13:28 President-elect Alberto Fernández says Argentina needs debt relief. Investors are paying a premium for bonds that they think will give them more negotiating power in the event of a default.

BLOOMBERG - OPINION

Eduardo Levy-Yeyati: Argentina's narrow path to common ground

01-11-2019 07:30 Economist and author Eduardo Levy-Yeyati says Alberto Fernández has a chance to fix Argentina's deep-seated economic problems — if he acts quickly.

BLOOMBERG - OPINION

Chris Bryant: Norwegian Air is flying again

24-10-2019 12:44 As with WeWork, Norwegian’s once giddy valuation imploded last year when investors started to doubt that the balance sheet was robust enough to support Kjos’s huge ambitions.

BLOOMBERG

Third Point blames Argentina bet for biggest third-quarter loss

24-10-2019 12:27 Hedge fund says it miscalculated and failed "to anticipate the extent of Macri’s loss in the primary election."

BLOOMBERG

MercadoLibre plans to double down on its Brazilian bet next year

16-10-2019 14:33 Latin American e-commerce pioneer, now worth US$28 billion, plans to invest more in its financial services and payments unit while opening more distribution centers in Argentina's giant neighbour.

BLOOMBERG

Stock and bond trading decimated in once red-hot Argentina

07-10-2019 16:59 Assets under management at local banks and brokerages have plummeted 25% since the primaries. Stock trading has fallen by half, and local bond volume is down by two-thirds.

BLOOMBERG

Patagonia summit sheds light on mood before election

07-10-2019 07:00 Argentine executives are preparing for the next government with a mix of pessimism, resignation and even some humour.

BLOOMBERG

Delta expands in South America with US$2.25-billion Latam deal

27-09-2019 10:13 Deal, which will see firm take 20% stake in LatAm, will likely turn Delta into largest US airline in the region, says experts.

BLOOMBERG

Eurnekián warns Alberto Fernández against closer ties with China

18-09-2019 15:16 “Turning our back to the US again and seeking an alliance with China to get funds would be a big mistake,” said Eduardo Eurnekián, the chairman of Corporación América

BLOOMBERG

The US$185-million bond payment that's overdue and stuck in Argentina

13-09-2019 15:55 Real-estate firm IRSA has the cash to cover a bond payment to foreign and local creditors. But then capital controls arrived – and everything got a lot more complicated...

BLOOMBERG OPINION

The massive cost of not adapting to climate change

13-09-2019 12:11 The world must invest $1.8 trillion by 2030 to prepare for the effects of global warming. A new report said the payoff could be four times that.

BLOOMBERG

Argentine corporate bond funds stuck in limbo after controls

13-09-2019 10:15 Argentina unveiled a series of capital controls at the start of this month as President Mauricio Macri responded to a plunging peso draining government reserves after his poor showing in a presidential primary vote.

ECONOMIC POLICY

Argentina must drive demand to boost economy, says Alberto Fernández

09-09-2019 07:30 Frente de Todos leader says businesses who risk capital need their investments to pay off because that creates jobs. But those investments won’t happen if there is poverty, he explains in an interview.

Bloomberg

Argentine bondholders pull out old guidebook to flee country

08-09-2019 08:55 “Many investors thought Argentina was on its way to becoming Chile or Colombia – stable, investment grade,” said Leo Chialva, a partner at Buenos Aires-based consulting firm Delphos Investment. “Those large funds are horrified by the latest measures.”

BLOOMBERG

A money manager doubles down on crisis-ridden Argentina’s bonds

06-09-2019 14:31 Lutz Roehmeyer, CIO of Capitulum Asset Management, who has invested in other crisis-stricken countries like Nigeria, said Argentine short-term bonds "are a good opportunity."

Bloomberg

MercadoLibre makes Argentina home to best bond in emerging markets

06-09-2019 08:01 A convertible note from MercadoLibre Inc., the Buenos Aires-based e-commerce company with operations across Latin America, has trounced its peers with a 72 percent return this year. That’s the best performance in all of emerging markets.

BLOOMBERG

Argentina’s dire month: from dry run election to quasi default

30-08-2019 11:20 The government's debt restructuring closes out month of economic turbulence.

BLOOMBERG

Argentine mutual funds block redemptions as locals rush for exit

30-08-2019 10:46 The government's decision to extend maturities has triggered a run on mutual funds.

BLOOMBERG

Hedge funds from Autonomy to Odey tumble on Argentine swoon

26-08-2019 13:54 Autonomy Capital and VR Capital Group saw their gains for the year wiped away after starting August with wagers on Argentina. Famed short seller Crispin Odey and Glen Point Capital also saw losses.

BLOOMBERG

Peso slump turns Argentina into a bargain for tourists, foreigners

23-08-2019 20:48 "Down the road, at the border crossing, a long line of cars was waiting patiently to get into Argentina from Brazil. None were going the other way."

BLOOMBERG

Supporters stand by Alberto Fernández after week of market turmoil

19-08-2019 12:49 Macri supporters are clinging to hopes he can turn around his campaign and pull off an upset in the October 27 presidential election.

BLOOMBERG – ANALYSIS

Markets: Dead-cat bounce finally arrives for Argentine markets

15-08-2019 15:08 After a brutal three-day sell-off that saw average yields spike to 21% and an implied probability of default gauge surge above 80% percent, investors finally found prices cheap enough to begin taking risk in the battered credit.

BLOOMBERG

Bond star Hasenstab's fund suffers most as Argentina nosedives

14-08-2019 11:56 US money managers portfolios' slide as post-PASO economic tumble continues.

BLOOMBERG

In era of extremes, Argentina's candidates fight for the centre

10-08-2019 11:18 The government and its main opposition demonise each other as extremists while fighting for votes in the middle of the political spectrum from an electorate that demands solutions.

by Mac Margolis

BLOOMBERG VIEW

Argentina can’t escape its economic curse

03-08-2019 10:30 Trapped in a cycle of economic crisis for over a century, is the country doomed to repeat its mistakes forever?

BLOOMBERG

Roberto Lavagna promises to crack down on carry trade if elected

01-08-2019 09:07 Comments come as investors pile on the carry trade – buying Argentine peso-denominated bonds with borrowed dollars – to take advantage of benchmark rates of around 60 percent and a stable peso ahead of elections.

BLOOMBERG

Alberto Fernández says he would stop paying Central Bank interest on Leliqs

29-07-2019 19:02 The Frente de Todos presidential candidate said he would cease interest payments on notes known as Leliqs, used to implement monetary policy, in order to raise retiree pensions by 20 percent once he takes office.

BLOOMBERG

MercadoLibre optimistic on Brazil's economy after 2018 hurdles

11-07-2019 11:55 Chief Executive Officer Marcos Galperin rejects views of economists who have slashed their forecasts for the region’s biggest economy.

BLOOMBERG

Argentina corporates pay high price in return to debt market

10-07-2019 13:04 Local firms returning to international capital markets after more than a year away may find their window to sell debt is already closing.

BLOOMBERG

Argentina election more uncertain as pollsters go dark

27-06-2019 13:34 The dearth of reliable, public poll data leaves investors, who fear that the Fernández-Fernández ticket would reverse Mauricio Macri’s pro-market policies, unsure about the future of the Argentine economy.