NEW YORK - The US judge presiding over Argentina’s bitter dispute with two hedge funds left the country stranded in default Friday, ordering it to hold new negotiations and calling for an end to “mistrust.”Despite fighting tooth-and-nail, Buenos Aires has been unable to find a way around District Judge Thomas Griesa’s ruling in favor of the hedge funds, which has blocked it from making payments to other creditors who agreed to take a 70 per cent write-down after the country’s 2001 economic Read more [...]

NEW YORK - The US judge presiding over Argentina’s bitter dispute with two hedge funds left the country stranded in default Friday, ordering it to hold new negotiations and calling for an end to “mistrust.”Despite fighting tooth-and-nail, Buenos Aires has been unable to find a way around District Judge Thomas Griesa’s ruling in favor of the hedge funds, which has blocked it from making payments to other creditors who agreed to take a 70 per cent write-down after the country’s 2001 economic Read more [...]

LONDON - Commodities mostly sank this week, with many hit by sliding equities, demand concerns, ample supplies, geopolitical worries in the Middle East and Ukraine and Argentina’s default, dealers said.Star performers coffee and cocoa, however, forged significant peaks on frenzied speculative buying interest, they added. Heading into the weekend, traders digested Friday’s tepid non-farm payrolls data in the United States, the world’s largest economy and a major consumer of most raw materials.- Read more [...]

LONDON - Commodities mostly sank this week, with many hit by sliding equities, demand concerns, ample supplies, geopolitical worries in the Middle East and Ukraine and Argentina’s default, dealers said.Star performers coffee and cocoa, however, forged significant peaks on frenzied speculative buying interest, they added. Heading into the weekend, traders digested Friday’s tepid non-farm payrolls data in the United States, the world’s largest economy and a major consumer of most raw materials.- Read more [...]

From Bad Earnings to Argentina’s Default: “Watching the Narratives” by Salient Partners You think you’re alone until you realize you’re in it. Now fear is here to stay. Love is here for a visit. – Elvis Costello, “Watching the Detectives” A quick email to follow up on yesterday’s market debacle. The question, of course, is whether this was simply a blip – yet another one-day BTFD opportunity – or the start of something bigger and worse. The answer, I think, depends Read more [...]