Moments ago ISDA, which yesterday was queried whether a CDS-triggering credit event had taken place in Argentina, made a ruling. Here it is:
- The Americas [Determinations Commitee] met on August 1, 2014 and resolved that a Failure to Pay Credit Event in relation to the Argentine Republic occurred on July 30, 2014.
Surprised? Look who is on the ISDA Americas determinations commitee:
BlueMountain Capital Management, LLC (Second Term Non-dealer)
D.E. Shaw & Co., L.P. (First Term Non-dealer)
Eaton Vance Management (First Term Non-dealer)
Elliott Management Corporation (Third Term Non-dealer)
Pacific Investment Management Co., LLC (Second Term Non-dealer)
And now, we find out who is the biggest seller of Argentina CDS was. Up next: the CDS auction.
via Zero Hedge http://ift.tt/1rWFwIf Tyler Durden