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Bond trading volumes and issuance collapse following the
Russian default of August 1998. Long Term Capital Management fails, wiping out leveraged investors in the emerging markets.
Asia’s crisis shocked investors and drove liquidity out of the market and volatility through the roof. Will Latin American debtors be able to refinance or repay their maturing obligations in 1998?
Faced with $170 million in debt coming due in 1998, Guillermo Gotelli, the straight-shooting president of Argentine athletic footwear company Alpargatas, had a cold realization: because the extreme turmoil in Asian markets was likely to keep international volatility high and liquidity low well into into the year, unusual measures would have to be taken if his company were to cover its debts. In short, extraordinary conditions required extraordinary actions
CEI Citicorp Holdings’ Handley still hooking hard in tough scrums
CEI Citicorp Holdings’ Handley still hooking hard in tough scrums
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