$720BN Fund Suffers Biggest Crash Since 2008 On Argentina Implosion

Read more on this subject: Argentina
News Story Source: https://www.zerohedge.com by Tyler Durden
 – the man who may have bought every single sovereign bond dip in history in hopes of being bailed out by central banks – was on Epsteinwatch, for the simple reason that this time a bailout was not forthcoming, resulting in unprecedented losses.

As a reminder, back in May 2018, when it was on the verge of the biggest ever IMF bailout in history (some $57 billion and counting in money that will never be recovered), Argentina received a "vote of confidence" from Franklin Templeton's Michael Hasenstab after he injected $2.25 billion into the country, which has been battling to save its currency. As the Financial Times reported then, funds run by Hasenstab, including his flagship $38 billion Templeton Global Bond fund, snapped up more than three quarters of a 73 billion peso ($3 billion) 'Bote' bond issuance by Argentina in May 2018. .

The purchase reportedly made the asset manager Argentina's single largest creditors, with holdings in mos
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