Why aggressive intervention may do little to save Argentina's peso

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SINGAPORE (Sept 3): Fund managers are worrying that the worst has yet to come in Argentina’s peso crisis as big names in the bond market continue to take a beating, according to the Financial Times.   

Based on FT calculations, funds of Franklin Templeton have lost US$1.23 billion (S$1.7 billion) on just three of its biggest Argentine positions over the past two weeks.

The US investment group’s “bond king” Michael Hasenstab was reported to have seen his flagship US$36.8 billion Global Bond Fund lose 4.2% in August, and his US$5.4 billion Global Total Return Fund dropping... (Click here to read the full story)