Argentinien: GDP-Kicker

[boca]

Kann mir nicht vorsetellen, dass viele Altbesitzer das Angebot annnhemen, aber lassen wir uns überraschen. Unter empirischen Gesichtspunkten durchaus interessant.

Darauf bin ich auch einmal gespannt, wieviele sich von dem Angebot überzeugen lassen.

Wer seit 9 Jahren die Anleihen hält wird wohl nichts unternehmen, im Gegensatz zu denen die vor einem Jahr bei 10% oder tiefer gekauft haben.

 

Was mich auch interessiert, ist die steuerliche Behandlung des Umtausches.

Wird der Umtausch wie ein Verkauf mit anschließendem Kauf behandelt oder bekomme ich einen Einstandskurs eingepflegt der meinem Kaufkurs entspricht?

Ist ja in diesem Fall nicht so einfach möglich, da es ja 2 neue Anleihen gibt.

Gibt es dazu evtl Erfahrungen aus anderen Umtauschangeboten?

[Superhirn]

Kann mir nicht vorsetellen, dass viele Altbesitzer das Angebot annnhemen, aber lassen wir uns überraschen. Unter empirischen Gesichtspunkten durchaus interessant.

Darauf bin ich auch einmal gespannt, wieviele sich von dem Angebot überzeugen lassen.

Wer seit 9 Jahren die Anleihen hält wird wohl nichts unternehmen, im Gegensatz zu denen die vor einem Jahr bei 10% oder tiefer gekauft haben.

 

Was mich auch interessiert, ist die steuerliche Behandlung des Umtausches.

Wird der Umtausch wie ein Verkauf mit anschließendem Kauf behandelt oder bekomme ich einen Einstandskurs eingepflegt der meinem Kaufkurs entspricht?

Ist ja in diesem Fall nicht so einfach möglich, da es ja 2 neue Anleihen gibt.

Gibt es dazu evtl Erfahrungen aus anderen Umtauschangeboten?

 

Soweit ich weiß wird das wie ein Neuauf behandelt aber ohne Gewähr und ohne Quellen, nur aus dem Gedächtnis und das läßt ja bekanntlich nach

[John Silver]

Aus der "WELT" vom 02.06.10

 

Argentinien verlängert die Frist für das Umschuldungsangebot

http://www.welt.de/die-welt/finanzen/article7879553/Argentinien-verlaengert-die-Frist-fuer-das-Umschuldungsangebot.html

[Prospektständer]

Fitch Lifts Argentina Out of Default to `B,' Stable Following Debt Swap

 

Fitch Ratings raised Argentina’s long-term foreign currency issuer rating out of default, citing the nation’s second defaulted debt swap offer that closed last month.

 

Argentina defaulted on about $95 billion in debt in December 2001. Fitch upgraded Argentina’s long-term foreign currency rating from RD to B with a stable outlook.

 

“As a result of this last transaction, and the one in 2005, Argentina has completed the restructuring of over 90 percent of the 2001 defaulted bonds,” Fitch said in an e-mailed statement today from New York. “This represents a positive step toward normalizing relations with creditors.”

 

Argentina’s rating is supported by factors including eight years of current account surpluses, the country’s relatively high per capita income levels and strong economic growth in recent years, Fitch said. The rating is constricted by “volatile macroeconomic performance, a weak policy framework, as well as still high government debt ratios relative to sovereigns rated in the ‘B’ category,” the ratings agency said.

 

The yield on the country’s 7 percent dollar bonds due in 2015 rose one basis point, or 0.01 percentage point, to 11.7 percent at 12:15 p.m. New York time, according to pricing from Deutsche Bank AG. The price was unchanged at 84 cents on the dollar.

 

To contact the reporter on this story: Drew Benson in Buenos Aires at abenson9@bloomberg.net

 

Kapitalmarktfähig?... :-

[BondWurzel]

Emittent :Argentinien, Repub..

 

Sitz Emitt. Argentinien

Typ Anleihe Währung EUR ISIN DE0001325017

 

 

 

 

Börse Stuttgart

Aktuell Realtime-Kurs30,00%

Zeit 13.07.1014:49

Diff. Vortag +50,00%

[vanity]

Diff. Vortag +50,00%

Tja, wenn man den Briefkurs von heute mit dem Geldkurs vom Vortag vergleicht!

 

Das geht auch natürlich auch andersrum:

 

 

(das sieht man nicht das erste Mal: kannst du mal kurz einen Crashkochkurs liefern, was die voneinander unterscheidet? Danke!)

[BondWurzel]

(das sieht man nicht das erste Mal: kannst du mal kurz einen Crashkochkurs liefern, was die voneinander unterscheidet? Danke!)

 

Man muss nur genügend Spreads in die Gemüse-Brühe geben...dann schmeckt es auch.

 

 

sach ich doch...

 

Argentina Bond Risk Sinks Most as GDP Forecasts Climb

August 05, 2010, 5:30 PM EDT

More From Businessweek

 

(Updates prices.)

 

Aug. 5 (Bloomberg) -- Argentina bond risk fell the most in Latin America over the past three months as quickening economic growth and a $12.9 billion debt restructuring boosted confidence in the country’s ability to pay its debt.

 

The cost of protecting Argentine debt against non-payment for five years with credit-default swaps tumbled 85 basis points, or 0.85 percentage point, in the three months through yesterday to 794, according to CMA DataVision. The decline is the biggest among emerging-market countries after Pakistan, whose default insurance sank 162 basis points to 498.

 

Argentine default swaps may plunge another 200 basis points by the end of the year as surging exports of soybeans and wheat propel growth in South America’s second-biggest economy, said Nick Chamie, global head of emerging-markets research at RBC Capital Markets in Toronto, a unit of Canada’s biggest bank. Economy Minister Amado Boudou yesterday boosted his growth forecast for this year to 7 percent from about 6 percent.

 

“The commodity price backdrop is strong for Argentina,” Chamie said. “The five-year CDS still has reasonable prospects to grind in slowly.”

 

Argentine bonds posted a 13.9 percent advance last month, the most among 46 developing countries in JPMorgan Chase & Co.’s EMBI Global Diversified Index.

 

Goldman Sachs Group Inc. predicts Argentina’s economy will post the biggest expansion in Latin America this year with growth of 8 percent amid a record grain harvest, high commodity prices and strong demand from trading partners.

 

Debt Restructuring

 

Five-year credit-default swaps tied to Argentine debt plummeted 175 basis points since President Cristina Fernandez de Kirchner completed the restructuring of defaulted debt on June 22. The settlement, which paves the way for Argentina to tap international bond markets for the first since its record default on $95 billion of debt in 2001, prompted Fitch Ratings to boost the country’s credit rating to B from default.

 

A basis point equals $1,000 annually on a contract protecting $10 million of debt. Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a government or company fail to adhere to its debt agreements.

 

The extra yield investors demand to own Argentine government bonds instead of U.S. Treasuries slid 13 basis points, or 0.13 percentage point, to 656 at 5:16 p.m. New York time, according to JPMorgan. It’s down from 846 on July 1. Almost a decade after its financial collapse, Argentine spreads are the highest in emerging markets after Ecuador and Venezuela.

 

The yield on Argentine dollar bonds due in 2017 fell 1 basis point today to 9.82 percent, the lowest since they were issued to creditors as part of the debt swap. Boudou postponed plans to sell up to $1 billion worth of the notes during the debt exchange, saying the country wouldn’t accept a yield of 10 percent or above.

 

‘Good for Argentina’

 

Argentina feels “no financial urgency” to sell bonds, he told reporters yesterday.

 

“Any decision we make about a possible issuance of new securities will be because it’s good for Argentina, not because it’s good for creditors,” he said.

 

The peso was little changed at 3.9344 per dollar.

 

Argentine warrants linked to economic growth rose 0.27 cents to 10.56 U.S. cents, the highest since June 2008.

 

RBC raised its forecast for Argentine economic growth to 6.5 percent from 5 percent yesterday. Gross domestic product expanded 0.9 percent last year, according to the national statistics institute.

 

“GDP warrants could still have some further upside,” RBC’s Chamie said. “I’d suggest taking some profits, but holding on to some if you have the stomach for volatility.”

 

--With assistance from Eliana Raszewski in Buenos Aires. Editors: Bill Faries, Lester Pimentel.

[BondWurzel]

Argentina Beats Brazil in Bond Market for Third Week as Swap Luring Funds

By Drew Benson - Aug 9, 2010

 

President Cristina Fernandez de Kirchner’s $12.9 billion defaulted debt swap is helping Argentine international bonds outperform Brazilian securities for a third straight week, the best rally since April.

 

The average yield on Argentine dollar bonds fell 39 basis points, or 0.39 percentage point, last week to 10.05 percent, compared with a 10 basis-point decline for benchmark Brazilian notes to 5.24 percent, JPMorgan Chase & Co. indexes show. Argentine yields are falling more than Brazil’s on speculation the June debt exchange will enable Fernandez, 57, to access overseas markets for the first time since the government defaulted in 2001.

 

“Argentina is often used as an example of what you shouldn’t do, held up as a model of what is bad,” said Ivan Aftalion, a senior bond trader with Standard Bank Argentina in Buenos Aires. “The thing that distinguishes Argentina from other emerging market debt is that it’s going to return to international markets for the first time in 10 years.”

 

Argentina’s central province of Cordoba is the latest issuer to take advantage of the rally in government debt, selling $400 million of seven-year bonds to yield 12.38% in its first international offering on Aug. 6. Argentina’s biggest real estate developer, IRSA Inversiones y Representaciones SA, and the Patagonian province of Chubut sold debt last month.

 

Arcor SAIC, Argentina’s biggest candy maker, said in an Aug. 5 regulatory filing that its board approved a program to sell as much as $500 million in bonds overseas.

 

Lower Borrowing Costs

 

Economy Minister Amado Boudou said in an April 14 interview that the restructuring will reduce Argentina’s borrowing costs by a third to about 200 basis points above that of Brazil within a year, opening the door for investment needed to bolster economic growth. The yield gap between Argentine and Brazilian bonds is unchanged since then, according to JPMorgan Chase.

 

Argentine bonds are rated B- by Standard & Poor’s, or six levels below Brazil, the region’s biggest economy. Argentine yields remain the highest in emerging markets after Ecuador and Venezuela.

 

“We are convinced that we have to mark a lower interest rate than we have now and that is the most important goal that we seek with this swap,” Boudou said in the interview in Buenos Aires.

 

Boudou postponed plans to sell as much as $1 billion worth of global bonds due in 2017 during the debt exchange, saying the country wouldn’t accept a yield of 10 percent or above. In the swap, the government restructured 66 percent of the bonds that creditors held out of a 2005 restructuring that paid 30 cents on the dollar. The country halted payments on $95 billion of bonds in 2001, the biggest default on record.

 

9 Percent

 

The government has “no financial urgency” to sell bonds and will do so when “it’s good for Argentina, not because it’s good for creditors,” Boudou told reporters in Buenos Aires on Aug. 4.

 

The government is waiting for yields to fall below 9 percent, Buenos Aires-based newspaper Ambito Financiero reported today, citing Boudou. A ministry spokesman did not immediately return a phone call seeking additional comment.

 

The yield on the dollar bonds due in 2017 fell two basis today to 9.74 percent, the lowest since they were issued to creditors as part of the debt swap, as of 4:43 p.m. New York time.

 

Argentine warrants linked to economic growth climbed 0.12 cent today to 10.58 U.S. cents, the highest since June 2008. The peso declined 0.1 percent to 3.9325 per dollar.

 

Default Swaps

 

Five-year credit-default swaps tied to Argentine debt fell six basis points last week to 786. A basis point equals $1,000 annually on a contract protecting $10 million of debt. Credit- default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a government or company fail to adhere to its debt agreements.

 

The extra yield investors demand to own Argentine government bonds instead of U.S. Treasuries fell 26 basis points, or 0.26 percentage point, today to 644, according to JPMorgan. The difference has declined from 846 on July 1.

 

Boudou raised his growth forecast for this year on Aug. 4 to 7 percent, which would be the biggest expansion since 2007, from about 6 percent. A record soybean harvest and a 25 percent increase in auto exports in July from a year earlier are accelerating an economy the government says grew 0.9 percent in 2009. Brazil, under President Luiz Inacio Lula da Silva, 64, is forecast to grow 6.55 percent this year, according to the median estimate in a survey of 22 economists by Bloomberg.

 

Argentina’s bond rally has also been sparked in part by a surge in global equities that has fueled demand for higher- yielding assets, said Kathryn Rooney, a strategist with Bulltick Capital Markets in Miami. The Standard & Poor’s 500 Index has climbed 9.2 percent since July 1.

“Argentina’s been on a tear,” Rooney said. “In a better environment, Argentina benefits.”

[BondWurzel]

Argentina's `Scorching' Growth Helps GDP Warrants Trump Bonds on 28% Surge

By Drew Benson and Boris Korby - Aug 10, 2010

Zitat:

Argentine securities linked to gross domestic product are outperforming the countrys bonds by the most in five months as surging commodity exports propel the fastest economic expansion in Latin America.

 

The warrants, which pay holders when growth exceeds government projections, gained 26 percent in the past month, compared with an 11 percent advance for bonds, according to JPMorgan Chase & Co. The outperformance is the biggest since the month ending March 9.

 

South Americas second-biggest economy is scorching and may grow 9.7 percent this year, the most since 1992, as grain output jumps and car exports to Brazil soar, Morgan Stanley economist Daniel Volberg said yesterday. The New York-based bank boosted its forecast from 4.6 percent, following upward revisions by JPMorgan, Royal Bank of Canada and Goldman Sachs Group Inc. in the past month.

 

Its a perfect storm for Argentina, said Edwin Gutierrez, who manages about $5 billion of emerging-market debt, including Argentine warrants, at Aberdeen Asset Management Plc in London. Theyve had a bumper crop, so agriculture is doing well, Brazil is booming so manufacturing is doing well and fiscal spending is adding a lot of liquidity to this economy.

 

The warrants, which are triggered when growth is above 3 percent and the inflation-adjusted value of the countrys GDP surpasses a base-case scenario laid out in the contracts, rose 0.04 cent to 10.65 cents at 9:36 a.m. New York time.

 

On Fire

 

The warrants, which mature in 2035, will pay about 5.35 cents in December 2011 if the economy grows by the 9.7 percent forecast by Morgan Stanley, said Alberto Bernal, head of fixed- income research at Bulltick Capital Markets, a Miami-based brokerage that focuses on Latin America.

 

Theyre on fire, Bernal said.

 

He predicts Argentinas economy will grow by 7.5 percent this year, delivering a 4.8 cents payment next year. Holders of the warrants will receive no payment this year because the economy expanded 0.9 percent in 2009 amid a global recession that crimped demand for soybean, wheat and corn exports.

 

A record 55-million metric ton soybean harvest and a 25 percent increase in auto exports in July from a year earlier prompted Economy Minister Amado Boudou to raise his 2010 growth forecast last week to 7 percent from about 6 percent.

 

JPMorgan lifted its estimate to 8.5 percent from 6 percent, while RBC raised its forecast to 6.5 percent from 5 percent. Goldman Sachs increased its growth forecast to 8 percent from 5.3 percent.

 

Bond Yields

 

The yield on Argentine dollar bonds due in 2017 rose 17 basis points to 9.77 percent at 9:29 a.m. New York time, coming off their lowest since they were issued to creditors as part of a $12.9 billion defaulted debt swap in June.

 

Boudou postponed plans to sell as much as $1 billion worth of the 2017 bonds during the debt swap, saying the country wouldnt accept a yield of 10 percent or above. The government is now waiting for yields to fall below 9 percent, newspaper Ambito Financiero reported yesterday, citing Boudou.

 

An Economy Ministry spokesman didnt return a message seeking comment.

 

Highway Operator

 

Highway toll operator Autopistas del Sol SA said that creditors holding about $291 million, or 95 percent, of its outstanding debt took part in a restructuring. Details about the bonds to be issued in exchange for the defaulted debt will be announced soon, the company said yesterday in a statement to Argentinas securities regulator.

 

Five-year credit-default swaps tied to Argentine debt fell 10 basis points yesterday to 776. A basis point equals $1,000 annually on a contract protecting $10 million of debt. Credit- default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a government or company fail to adhere to its debt agreements.

 

The extra yield investors demand to own Argentine government bonds instead of U.S. Treasuries fell two basis points, or 0.02 percentage point, to 651, according to JPMorgan. Even after declining from 846 on July 1, that is still the highest among major emerging market economies after Venezuela and Ecuador. The peso was little changed today at 3.9323 per dollar.

 

Pension Takeover

 

Since taking office in Dec. 2007, President Cristina Fernandez de Kirchners government has nationalized the $24 billion pension fund industry and backed a takeover of the countrys flagship airline, Aerolineas Argentinas SA.

 

The government made a warrant payment of 3.11 cents on Dec. 15 after the economy grew 6.8 percent in 2008. Argentina attached the warrants to bonds it gave creditors in a 2005 restructuring of $95 billion of defaulted debt. Fernandez issued more of the securities in the June debt swap to creditors who rejected the 2005 settlement.

 

Morgan Stanley predicts Argentinas economy will grow 5.9 percent next year as agricultural production expands by less than 1 percent, demand from Brazil slows and quickening inflation limits domestic consumer spending.

 

GDP warrants are the definition of a high-beta trade, Bullticks Bernal said. If things are good globally, they will outperform everything. If things get complicated, the warrants are going to get killed.

[BondWurzel]

Wer noch bei 5% zugriffen hat im Februar oder Mai....darf jetzt schon bei 9.30 verkaufen...kommt Zeit kommen auch wieder 100% Profit.

 

12 Monate +154,59%

 

https://kunde.comdirect.de/inf/anleihen/detail/chart.html?ID_NOTATION=13466016&REQUESTED_REDIRECT=BOND

[Archimedes]

Zocker Zeug, da muß man die Beruhigungstabletten mit zu den Transaktionskosten zählen.

Was passiert denn, wenn das Wachstum mal unter 9% fällt ?

Denkst du Argentinien ist langfristig ein verlässlicher Schuldner, eigentlich sollte sie ja ihre Lektion gelernt haben ?

Ich denke da mehr an neue Anleihen.

[BondWurzel]

Zocker Zeug, da muß man die Beruhigungstabletten mit zu den Transaktionskosten zählen.

Was passiert denn, wenn das Wachstum mal unter 9% fällt ?

Denkst du Argentinien ist langfristig ein verlässlicher Schuldner, eigentlich sollte sie ja ihre Lektion gelernt haben ?

Ich denke da mehr an neue Anleihen.

 

 

9% ist China nicht Argentinien....

 

- Der Überschuss hängt davon ab, wie hoch das Wirtschaftswachstum im Vorjahr über 3% war, und ob es seit der Emmission im Schnitt über 3% lag. Der Prospekt gibt eine konkrete Formel zur Berechnung der Verteilungsmasse an.

 

http://www.mecon.gov.ar/finanzas/sfinan/english/english_gdp.htm

 

 

Der GDP-Kicker hat seine speziellen Reize und speziellen Risiken...ein Land welches wieder auf die Beine kommt, hat wohl mehr Reize.

 

Wundert mich, dass man sich hier so wenig damit beschäftigt, der Bond hatte bestimmt um die 5% einen guten Einstiegskurs, dass das hier was für Kenner ist, dürfte klar sein. Wasserpfeifenraucher und Hütchenspieler sollten auf ein anderes Terrain ausweichen ....

 

 

Was meint Tormann dazu?

 

Fleischs Meinung steht ja schon....händeringend...

 

 

 

 

Geschrieben 20. Januar 2009 - 00:06

definitiv ! keine Investition in argentinische Papiere. Genauso Finger weg von Ecuador, Venezuela (dürfte demnächst auch was kommen) und noch ein paar andere Staaten.

 

Merke: Rendite korreliert mit dem Risiko. There's no free lunch.

[Zinsen]

Anatomie einer Schuldenkrise:

 

Nach dieser neuerlichen Umschuldung dürften gut 92% der ursprünglichen Staatsanleihen umgetauscht worden sein. Der Rest liegt primär in den Händen von sogenannten «vulture funds», welche die Papiere im Laufe der Zeit günstig aufgekauft haben. Diese werden weiterhin versuchen, über Gerichtsentscheide die Mittelaufnahme Argentiniens auf ausländischen Kapitalmärkten zu verhindern und die Regierung in Buenos Aires damit an den Verhandlungstisch zu zwingen. Ein weiteres ungelöstes Problem sind die Schulden Argentiniens gegenüber dem Pariser Klub, der staatliche Gläubiger vertritt. Hier sind noch 7 Mrd. $ ausstehend.

 

Einer vollen Kapitalmarktfähigkeit ebenfalls nicht gerade förderlich ist die Tatsache, dass Argentinien weiterhin keine Überwachung seiner Wirtschaft durch den Internationalen Währungsfonds zulässt, auch nicht die Artikel-IV-Prüfungen (die letzte fand 2006 statt), die sonst in allen IMF-Mitgliedsländern alle ein bis zwei Jahre stattfinden. Das Verhältnis zum IMF ist immer noch getrübt, nachdem dieser zugegebenermassen mit seiner Politik in Argentinien keine gute Figur gemacht hat.

 

Frisiert werden nach allgemeinem Dafürhalten die Inflationsstatistiken: Anstatt der offiziell ausgewiesenen 10% dürfte die Teuerung wohl eher 25% betragen.

 

 

 

[BondWurzel]

Default Risk Tumbles Most in World on Fernandez Economy: Argentina Credit

By Ben Bain and Drew Benson - Sep 5, 2010

 

Argentinas bond risk is falling the fastest of any country as South Americas second-biggest economy heads toward its largest expansion since 1992, increasing the governments ability to pay its debt.

 

The cost of protecting Argentine debt against non-payment for five years with credit-default swaps plunged 274 basis points, or 2.74 percentage points, to 854 from June 3 through last week, the biggest decline worldwide for the past three months, according to CMA DataVision.

 

Argentinas credit-default swaps became cheaper as an economic expansion that President Cristina Fernandez de Kirchner said last month quickened to a 9 percent annual rate increased tax revenue. They may tumble as much as 200 basis points more by the end of the year, said Nick Chamie, global head of emerging- markets research in Toronto at RBC Capital Markets, a unit of Canadas biggest bank.

 

All in all, its good news for Argentina with regards to economic prospects and overall risk premiums, Chamie said.

 

The nations swaps dropped from 1,379 basis points in May as prices for soybeans and wheat exports rose and car shipments to neighboring Brazil soared. Fernandez, 57, closed an offer on June 22 to restructure $12.9 billion of debt held out of a 2005 settlement, paving the way for Argentina to tap international bond markets for the first since its record default on $95 billion of debt in 2001.

 

The central bank forecasts Argentinas gross domestic product will grow as much as 9.5 percent in 2010, the most since 1992. Argentinas tax revenue rose 37 percent in August from a year earlier to 34.6 billion pesos ($8.8 billion), the countrys tax agency reported last week.

 

GDP Growth

 

Gross domestic product rose 6.8 percent in the first quarter of this year, according to the National Statistics Institute, and growth will continue in coming months, Goldman Sachs Group Inc. economist Alberto Ramos wrote in a Sept. 3 report from New York.

 

There is a high probability that following the steady expansion recorded during the first half of 2010 the economy will continue to expand over the next few months, Ramos wrote.

 

Five-year credit-default swaps tied to Argentine debt plummeted 389 basis points since June 1. A basis point equals $1,000 annually on a contract protecting $10 million of debt. Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a government or company fail to adhere to its debt agreements.

 

Venezuela Default Insurance

 

Venezuela had the biggest decline in default insurance after Argentina during the past three months, with five-year swaps dropping 133 basis points to 1252. The cost of protecting Greek debt rose the most during the period, climbing 133 basis points to 859, nearing parity with Argentina. Greece was forced to seek an EU-led bailout in May after mounting concerns the country may default drove up borrowing costs.

 

The extra yield investors demand to hold Argentinas dollar bonds instead of U.S. Treasuries fell to 685 basis points on Sept. 3 from 852 on June 8, according to JPMorgan Chase & Co.s EMBI+ index.

 

The peso was little changed last week at 3.9453 per dollar. The yield on benchmark 7 percent bonds due in 2015 dropped 49 basis points last week to 10.64 percent, while warrants linked to economic growth rose 1.59 cents to 11.02 cents, according to data compiled by Bloomberg.

 

Massive Outperformer

 

Economic growth has helped Argentine bonds be a massive outperformer, said Edwin Gutierrez, who manages about $5 billion of emerging-market debt, including Argentine securities, at Aberdeen Asset Management Plc in London. The decline in costs to insure Argentinas debt may slow should Fernandez be reelected in 2011, he said.

 

Fernandezs husband and predecessor, Nestor Kirchner, offered creditors about 30 cents on the dollar in the 2005 settlement of the defaulted bonds, the harshest restructuring terms since at least World War II, according to Arturo Porzecanski, an international finance professor at American University in Washington.

 

Four years earlier, Argentina was mired in a three-year economic slump in late 2001 that made it harder for the country to make payments on billions in dollar-denominated debts it racked up in the 1990s, when the peso was fixed one-to-one against the U.S. dollar. The government moved to slash salaries and freeze bank accounts, spurring violent protests. Residents across Argentina took to the streets to oppose the measures, with more than two dozen people killed in protests.

 

Consumer Price Data

 

Economists and government officials including Vice President Julio Cobos have also questioned the accuracy of the nations consumer price index, saying officials have underreported price increases since January 2007, when Nestor Kirchner made personnel changes at the statistics agency

 

Growth masks a lot of problems and thats a very valid point on the political front as well, Gutierrez said. The politics, though, is actually something that could weigh on the market sometime down the line, especially the prospects of the Kirchners returning. That is bad for the markets, unequivocally bad.

 

RBCs Chamie said he expects Argentina will continue to outperform.

 

Argentina will probably lead the pack through the end of the year, Chamie said.

[vanity]

... 12 Monate +154,59%

Pah, Küchenmädchen-Performance! Das machen wir mit Kenner-Timing doch an einem Tag!

 

[Superhirn]

... 12 Monate +154,59%

Pah, Küchenmädchen-Performance! Das machen wir mit Kenner-Timing doch an einem Tag!

 

 

[Schnucki]

Pah, Küchenmädchen-Performance! Das machen wir mit Kenner-Timing doch an einem Tag!

 

 

 

 

 

 

Hallo zusammen,

 

ich habe seit einem halben Jahr diesen GDP Kicker im Depot. So wie ich das verstanden habe wird es für Ende diesen Jahres keine Ausschüttung geben. Wie hoch schätzt ihr aktuell die Ausschüttung für Ende 2011?

Bin eigentlich ziemlich optimistisch für Argentinien, liegt unter anderem daran, dass ich optimistisch für Agrarprodukte bin. Die Verschuldungsquote ist dank den früheren Schweinereien auch moderat, da besteht noch viel Raum für kreditfinanziertes zukünftiges BIP Wachstum.

 

Den Kicker finde ich auch bei Kursem um 11% noch interessant.

 

Eine weitere Frage, deren Antwort ich bisher nirgends finden konnte: ist es möglich, die fiktive Quellensteuer von 15% hier angerechnet zu bekommen?

 

Grüsse

Schnucki

[BondWurzel]

Argentinien: Zins von 18 %! Lage aber immer noch zu unsicher ...

 

https://jyskebank.com/wps/portal/jbpb_COM/mailservice?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/MarketNews/JBPrivateBanking/MarketNews/WebRed_345019

[Akaman]

Argentinien und der Pariser Club wollen verhandeln

[BondWurzel]

nur mal so...

 

]Emerging Market Bonds

Name Letzter %

ARGENTINA 2038 PAR 36,00 G +140,00%

ARGENTINA 01/08 40,00 G +60,00%

ARGENTINA 99/02 MTN 34,00 G +36,00%

ARGENTINA 01/18 40,00 G +33,33%

ARGENTINIEN 00/03 37,00 G +32,14%

 

https://www.boerse-stuttgart.de/rd/de/winner/anleihe

[Apophis]

und das Volumen, was fuer ein Brueller.

[Akaman]

Und gleich noch ein Brüller: vor einigen Tagen habe ich in der FAZ eine kurze Notiz gelesen, dass Argentinien sich an den IMF gewendet hat mit der Bitte um Unterstützung. Natürlich nicht wegen irgendwelcher Kredite - dazu liegen die beiden Seiten immer noch zu sehr über Kreuz. Sondern, weil sie jetzt ihre Inflationsstatistik doch wieder auf Vordermann bringen wollen und das offenbar allein nicht hinbekommen ...

[BondWurzel]

Über 6 Milliarden Dollar Außenstände

Argentinien will Schulden bezahlen

 

http://taz.de/1/zukunft/wirtschaft/artikel/1/argentinien-will-schulden-bezahlen/

Für die argentinische Regierung ist dies denn auch der "entscheidende Schritt", um die Schuldentilgung endlich vornehmen zu können. In seinem Antwortschreiben schlägt Boudou ein rasches Treffen noch für Anfang Dezember vor. Das Trumpf-Ass der Argentinier ist die gegenwärtige Währungsreserve von über 50 Milliarden Dollar. Davon könnten die Verbindlichkeiten auf einen Schlag beglichen werden.

[Superhirn]

Über 6 Milliarden Dollar Außenstände

Argentinien will Schulden bezahlen

 

http://taz.de/1/zukunft/wirtschaft/artikel/1/argentinien-will-schulden-bezahlen/

Für die argentinische Regierung ist dies denn auch der "entscheidende Schritt", um die Schuldentilgung endlich vornehmen zu können. In seinem Antwortschreiben schlägt Boudou ein rasches Treffen noch für Anfang Dezember vor. Das Trumpf-Ass der Argentinier ist die gegenwärtige Währungsreserve von über 50 Milliarden Dollar. Davon könnten die Verbindlichkeiten auf einen Schlag beglichen werden.

 

Das bezieht sich wohl nicht auf die Anleihen die seit 2002 nicht bedient oder verzinst werden.

[AndreasWolf]

Hallo,

 

weiß jemand hier im Chat wie die Zinszahlung der Anleihe A0DUDM in diesem Jahr ausfallen wird?

 

In den letzten Jahren wurde der Zinssatz spätestens Ende November für den 15.12 festgelegt.

Nun haben wir schon den 03.12 und ich kann keine Infos sehen, ob er schon feststeht und wenn ja wie hoch er ist.

Siehe auch dazu die offizielle Seite zur Veröffentlichung des Zinssatzes.

http://www.mecon.gov.ar/finanzas/sfinan/english/english_gdp.htm

 

Es wäre nett, wenn ich eine qualifizierte Antwort erhalten kann.

Das Risiko ist mir bewusst. Habe die Anleihe schon 4 Jahre und mein Kapital durch die Zinszahlungen eh schon wieder zurück.

 

Danke im Voraus.

 

ATW81