For the record, Ecuador will not default. A very easy call to make.
By Lester Pimentel
Nov. 13 (Bloomberg) — Ecuador’s bonds plunged amid speculation the government will miss a $30 million interest payment in two days on its benchmark dollar bonds due in 2012.
The yield on the 12 percent securities soared 25 percentage points to 69.28 percent at 5:36 p.m. in New York, according to JPMorgan Chase & Co. The price on the $510 million bond sank 17 cents to 25 cents on the dollar yada yada continues here.