Markets Live: US economy takes off

Argentina‘s economy minister Axel Kicillof said Argentina would continue to deny what he calls “vultures” full repayment. 9:13am: Local stocks are poised to open little changed after Wall Street traded sideways with no fresh reason from the Fed to push shares higher.

At a hastily convened press conference in New York on Thursday morning (AEST), he rejected suggestions the country had entered default and said Argentina would continue to deny what he calls “vultures” full repayment.

Live article connection interrupted. 9:20am: Argentina has denied reports it is in default on a $US539 million ($578 million) interest payment to bondholders who took heavy discounts after the country’s record $US95 billion default in 2001.

Argentina has the money, but a New York court has continued to rule that it cannot pay any creditors until it meets its obligations in full to NML Capital, one of a small group of hedge funds that have refused to renegotiate terms of debt picked up after the history-making sovereign default.

Read more here: SMH

    

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