Argentine Bonds Fall After Clearstream Suspends Settlement
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Argentine bonds fell after Clearstream Banking SA said it suspended settlement on the nation’s securities due to a conflict between Citigroup Inc. and local regulators.
Argentina’s local law dollar bonds due 2017 slid 0.9 cent to 98 cents on the dollar, pushing yields up 0.54 percentage point to 9.95 percent at 3:56 p.m. in New York. Clearstream said in an e-mail that it suspended settlement in the Argentine market. The ban applies to all of the nation’s local law restructured dollar debt, and will temporarily apply to non-exchange bonds until the company receives legal confirmation on its assets with custodian banks, Clearstream said in a statement on its website.