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Argentina asked creditors for more time to repay its roughly $100bn in debt, a move that sent investor fears of default higher. Argentine spreads over US Treasuries jumped 184 basis points to 2,256 after the announcement.
Sovereign debt stress deepens peso weakness and import financing strain, which can push Argentine farmers to accelerate soy and meal sales and affects the Argentine export balance that competes with US meal.
aljazeera.comReutersAug 29, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
