- S&P -2pts to 1979
- Dow -20pts to 16896
- Nasdaq -10pts to 4517
US 10 year yields 2.41% +1bp
News from Argentina is said to be behind the early fall in stocks. The Argentinian government has said it will settle bonds locally, going against a US court ruling that a local swap deal would be illegal and that they should settle 2001 holders before making payments on restructured notes. Obviously that’s going to piss some people off in the States but I don’t think that the overall market effect should be large.
I’ve not really been following the Argentina news so I’ll refer it to my learned colleague when he touches down in ForexLive HQ. This was his latest on the subject at the beginning of the month