Hasenstab's bet on Argentine debt is only getting more dangerous - Business Insider

Franklin Templeton and its star money manager, Michael Hasenstab, have $4.3 billion worth of Argentine bonds as the country marches towards restructuring,Officials in Argentina say the restructuring agreement will not do any favors to investors, Bloomberg reported.

That's as it's becoming increasingly likely that the government will have to restructure its debt. The country's Economy Minister Martin Guzman said Wednesday that Argentina won't let international financial firms "set the guidelines on macroeconomic policy." Instead, he said, the debt restructuring will be focused on reviving the Argentine economy after its currency and economy collapsed — that won't entail attractive terms for investors, Bloomberg reported.

But Templeton's bets on Argentina have been big, and spanned multiple funds. Its emerging markets fund, which is 5.6% Argentine assets, has done worse than 98% of its competitors this year, Bloomberg reported. Hasenstab, who increased his stake in Argentina after its 2018 currency crisis, likely hopes that restructuring will provide relief and reward. But there's no guarantee that this restructuring will follow the same path that his European bets did, Bloomberg reported.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Amazon outsources trucker support and drivers say it's dangerous - Business InsiderAmazon outsources its technical support hotline for truck drivers overseas — and some truckers are slamming the unusual strategy as a potential safety issue
Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »

Yelp's new ad products will benefit from 5G - Business Insider - Business InsiderAs carriers launch commercial 5G networks, Yelp is positioning itself to take advantage by providing ad products that leverage mobile location data
Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »

Physician adoption of digital health tools spikes - Business Insider - Business InsiderAn American Medical Association study showed that physicians' use of digital health solutions increased in every category over the past three years.
Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »

Business InsiderDespite Alibaba's promising performance on the back of Single's Day 2019, the coronavirus outbreak may weaken its sales in the future $BABA vs
Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »

Interactive Brokers CEO, insiders on strategy, zero commissions - Business InsiderMeet the Interactive Brokers execs who plotted industry-roiling moves in commission-free trades and fractional shares — and are keeping their next play top-secret
Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »

Earn up to 100,000 points with the Southwest Performance Business card - Business Insider100,000 points leaves you just 25,000 points shy of qualifying for the Companion Pass. This offer is only available for a limited time, so don't wait.
Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »