Argentina-class managed restructuring

A familiar IMF / Paris Club / bondholder triangle resolves the situation over 18-24 months; haircuts in the 30-45% range; affected sovereign re-accesses markets at distressed yields.

Trade lens —EMB catches a relief rally as restructuring terms clarify; Citi (C) EM lending-book impairment crystallises; Argentina-class precedent supports peer-EM spreads.

Signal counts measure media attention over the last 7 days — not the likelihood of an outcome.