Espirito Santo Bonds Tumble to Records Amid Missed Note Payments

``The selloff was prompted by Espirito Santo International SA saying it delayed payments on some securities and follows a warning from the bank in May that its parent company faced a "serious financial situation" that could be damaging. Moody's Investors Service placed Banco Espirito Santo under review for a potential downgrade citing "corporate governance shortcomings" last month. "The bigger question is whether the government will have to get involved," said Steve Hussey''