what floor price?, page-33

JID,

just as comparison.

Using the sept market peak as a reference:
XAO -2.6%
MERV (Argentina stock index) -6%
TRY -20%
ORE -40%

In the last week from 22Nov:
XAO +2.1%
MERV +0.4%
TRY -7.5%
ORE -17.6%

If you look at stocks listed on the Argentine stock exchange, appears calm, bar a 5% plunge on Nov22 followed by a 5% recovery the next day on Nov23. To me it appears not many people are taking notice of the Argentine situation. The bond market has now fully recovered from the initial knee-jerk reaction, so bond investors are now effectively saying that the recent event has shifted the probability of default by 0%.