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To: Box-By-The-Riviera™ who wrote (139795)12/21/2001 12:08:05 AM
From: B.REVERE  Respond to of 436258
 
From the prubear site:

Other Argentines sought refuge in the stock market, figuring it was safer to invest in a company with tangible value rather than keep cash in bank deposits, which have a checkered history of being seized by cash-hungry governments here. Brisk buying drove the leading MerVal (.MERV) index up more than 17 percent.

But the bond market, battered for months by fears Argentina could stumble into the biggest sovereign debt default in history, was a truer reflection of the financial nerves rattling the country.

Argentina's benchmark global bond due 2008tumbled 10 percent to just 25 percent of face value.