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7/8/14

Grant the media one thing: On Argentina, they're consistent

In our post one month ago, "Argentina and bonds and defaults and business death and stuff and money: Things the media will show you today (and things they won't)", we noted that the media were howling and screaming about the dumpage in the local stock market (e.g. its main Merval index) due to this bonds holdout thingy, even if the context of its massive run in the last 12 months...oooh, how can we put this?...hmm...well, it's kinda just slipped they're collective minds, all accidental like.

Since then it's been quiet again, which can only mean...



...yup, the Argentina stock market has rallied and we're back to where we were.

And yes, Virginia, that does say 160% in 12 months. And yes, Virginia, I know you were under the impression that the country was about to fall apart at any given minute. And yes indeed, Virginia, perhaps you should stop reading The Economist for your "insight" on LatAm.