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Emerging MarketsEM LatAm

YPF ups offer but Arg investors fear more of the same

Argentina, Buenos Aires, storm, YPF, LatAm, 575, lightning

Argentine oil and gas company YPF triggered a rally in its bonds this week by improving the terms of a proposed debt exchange that bondholders had initially rejected. Yet if the amendment was a sign of pragmatism from the government owned issuer, investors hardly saw it a reason for cheer, and yet another government related default is still on the cards.

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