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S&P declared Argentina in default after the government extended maturities on short-term paper and sought a voluntary reprofiling of about $50 billion in longer-dated debt. The ratings firm lowered Argentina's rating to selective default.
A sovereign default increases currency volatility and import financing stress in a major soymeal exporter, which can shift export pricing and trade flows.
irishtimes.comTommy StubbingtonAug 30, 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.
