JPMorgan’s Silvani Says Markets ‘Wrong’ on Argentina Resolution

“Markets are wrong,” Matias Silvani, a money manager at JPMorgan Asset Management, said at an Emta conference in New York. * Bond markets are “mispricing not only the timing of when this is settled but the actual fundamentals, which have been deteriorating.” * When Argentina settles it will be done “in a position of weakness, not strength.” * Settlement with holdouts probably won’t happen before first quarter of 2016, after there’s a new administration, Javier Kulesz, an analyst at Nomura Holdings Inc., said at the conference. Three presidential candidates leading polls understand cost of settling is low and upside is “phenomenal,” he said.

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