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As Argentina's government proposes swapping securities subject to U.S. law with local debt, selloff of the nation's bonds extended.
High court will not consider appeal to decision requiring Argentina to pay bondholder holdouts before paying those who accepted government debt restructuring offer.
Surge in new collateralized loan obligations helps push prices to five-month high.
Mismatch between supply and demand boosts bond returns.
Despite last year's poor returns, buyers are pouring into emerging-market debt this spring.
To fight deflation, European Central Bank became first major central bank to charge, rather than pay, banks for parking cash with it.
