Argentine CDS prices up, trepidation on gov't payment proposal
NEW YORK, April 1
NEW YORK, April 1 (Reuters) - Investors bid up the price to insure Argentine sovereign debt on Monday, reacting to a court-ordered payment plan proposal for holdout investors that offers the same terms already rejected in 2010, thereby raising the possibility of a technical default.
According to data provider Markit, the annual cost to insure a $10 million portfolio of sovereign debt for five years rose to $3.471 million from $3.104 million on Friday.
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