Lowest Yields Since 2008 Signal Debt Accord: Argentina Credit
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Argentina’s borrowing costs are dropping to the lowest level since March 2008 as the government pledges to restructure defaulted debt with creditor nations in talks that begin today.
The extra yield investors demand to hold Argentine dollar notes rather than U.S. Treasuries fell 20 basis points last week to 507 after touching 497 on Dec. 7, the smallest difference since before JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. more than 2 1/2 years ago. The yield spread on emerging- market dollar debt overall shrank 11 basis points in the week to