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BUENOS AIRES (Reuters) - Argentina has defused fears of a messy default after it gained backing from creditors, allowing it to exchange 99% of the bonds involved in a $65 billion restructuring, a deal that could set a precedent for future sovereign crises.
Argentina s Economy Minister Martin Guzman waves before attending a news conference to give details about the agreement with major private creditors to restructure Argentina s sovereign debt, at the Casa Rosada Presidential Palace, in Buenos Aires, Argentina August 31, 2020. Juan Mabromata/Pool via REUTERS/Files
After months of winding and tense negotiations, framed by the coronavirus pandemic, bondholders tendered 93.55% of the eligible bonds in the exchange, which with collective action clauses (CACs) allowed a near-full deal to go ahead.
Jan. 9, 2021 11:00 am ET
WASHINGTON Getting a mortgage for a resort-area condo might become more difficult after Fannie Mae and Freddie Mac moved to tighten rules on buildings with many short-term rentals and hotel-like amenities, some Realtors and bankers say.
Fannie Mae last month changed its rules to make it clearer that it won’t back certain loans in high-rent vacation areas, with Freddie Mac taking similar steps that go into effect next month.
The moves by the two government-controlled mortgage giants come as the Trump administration seeks to shrink their footprint in housing, especially in areas such as vacation properties that may not serve the core mission of encouraging homeownership by making it more affordable.
“You see patients who are just not able to pay. So there are sick people, especially with cancer, and then in the COVID pandemic where people have lost jobs… who are doing all sorts of stuff just to survive,” Atiq, 60, told TODAY.
“For them to have this additional burden, it occurred to us that we were blessed to be able to do this.”
He made the announcement in holiday cards mailed to his patients in December.
This holiday card announced the gesture to patients.
Courtesy Dr. Omar Atiq
“The Arkansas Cancer Clinic was proud to have you as a patient. Although various health insurances pay most of the bills for majority of patients, even the deductibles and co-pays can be burdensome,” the card read.
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A big pension manager disclosed some recent changes in its investment portfolio.
The Municipal Employees’ Retirement System of Michigan administers the retirement plans for Michigan’s local units of government on a not-for-profit basis. Mers, as the pension is known, added to positions in SPDR Portfolio Intermediate Term Treasury (ticker: SPTI), SPDR Portfolio Short Term Treasury (SPTS), and iShares J.P. Morgan USD Emerging Markets Bond (EMB) exchange-traded funds in the fourth quarter. The pension also reported a large position.
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A big pension manager disclosed some recent changes in its investment portfolio.
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