Investors Dodge Argentina Bond Pain by Buying YPF, Provinces
Yahoo! Finance
(Bloomberg) -- Investors are scoring some of the best returns in emerging markets by dumping battered Argentine sovereign bonds to buy the nation’s corporate and provincial notes.While debt from the federal government has tumbled more than 35% this year to some 20 cents on the dollar, bonds issued by state controlled oil company YPF SA have returned as much as 18%. Notes sold by provinces like Mendoza and Cordoba have returned about 7%. The returns are among the best in developing nations and st
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