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Argentina Stock Market crashed 48% this week and nobody noticed!


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Is this contagion going to spread throughout the world markets?

  • The S&P Merval Index plummeted 48% Monday, the second-largest single-day drop for any stock market since 1950. 
  • The Argentine peso fell 15% against the US dollar Monday, and extended losses on Tuesday.

 

https://markets.businessinsider.com/news/stocks/argentina-on-brink-of-financial-crisis-market-rout-election-surprise-2019-8-1028443209

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9 minutes ago, fuzzy_bear said:

Contagion with what? No one in the right mind owns Argentinian assets 

6 weeks ago the FT  ran article headed 'Investors warm to brighter signs from Argentina'

'Since mid-May, the peso has emerged as the best performing of emerging-market currencies, while the benchmark stock index has soared more than 40 per cent since the beginning of that month. Yields on the government’s short-term debt have also dropped from distressed levels.'

Plenty of analyst quotes in there from Blackrock, Goldman Sachs etc as well as 3 or 4 boutique investment houses. So I'd imagine there were people out there taking their advice and trying to ride that wave to another 40%+ gain, skys the limit etc etc. 

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9 minutes ago, regprentice said:

So I'd imagine there were people out there taking their advice and trying to ride that wave to another 40%+ gain, skys the limit etc etc. 

A bond trader friend of mine put it like this 'I have to buy shit like that because its yield is good, if I don't my performance will be shit and most of the time it will be ok"

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10 hours ago, regprentice said:

6 weeks ago the FT  ran article headed 'Investors warm to brighter signs from Argentina'

'Since mid-May, the peso has emerged as the best performing of emerging-market currencies, while the benchmark stock index has soared more than 40 per cent since the beginning of that month. Yields on the government’s short-term debt have also dropped from distressed levels.'

Plenty of analyst quotes in there from Blackrock, Goldman Sachs etc as well as 3 or 4 boutique investment houses. So I'd imagine there were people out there taking their advice and trying to ride that wave to another 40%+ gain, skys the limit etc etc. 

Pump and dump?

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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