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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject4/20/2001 8:27:29 PM
From: besttrader   of 37746
 
11:29 ET Argentina Woes : Goldman Sachs squawks that financial situation in Argentina could continue to get worse as no US help is expected and Argentine consumer confidence is deteriorating thus threatening a run on the banks. Says that recently appointed Finance Minister Cavallo has not proposed significant spending cuts, thus increasing the default risk, and has also exacerbated fears of a peso devaluation by talking about changing from a 1-to-1 dollar peg to a peg vs a basket of currencies.
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