BUENOS AIRES, July 18 (Reuters) - Argentina’s dollar-demoninated Par bond rose 3.6 percent on Friday on market rumours that “holdout” investors suing the Latin American country for full payment of bonds were open to the idea of reinstating a court stay.
“The rumours of a possible stay are affecting asset prices, but there is no concrete news,” bond trader Roberto Drimer told Reuters.
Argentina has until July 30 to settle with the New York-based hedge funds or face another painful debt default. Its government says it needs a suspension of the court order that triggered the deadline to negotiate further. (Reporting by Jorge Otaola; Writing by Richard Lough)