Soros’s Argentina Bond Win Triggers Irrational Exuberance

A modest win for hedge-fund billionaire George Soros and Hayman Capital Management founder Kyle Bass in London court is triggering a reaction verging on euphoria in Argentina’s bond market.

Bank of America Corp. and Citigroup Inc. say investors need to curb their enthusiasm. On Feb. 13, the presiding judge confirmed the U.K. has jurisdiction over 225 million euros ($257 million) of interest payments frozen by a U.S. court order and intended for holders of euro-denominated bonds, which include Soros’s Quantum Partners and Bass’s Hayman.