ROUGH CUT (NO REPORTER NARRATION)<br/> <br />STORY: Argentina was in a race against time on Wednesday (July 30) to cut a deal by the end of the day with holdout investors demanding repayment on bonds they purchased in 2002. Without a deal, Argentina was faced with a debt default for the second time in 12 years.<br/> <br />A surge in the country's bond prices fed optimism that an agreement was possible.<br/> <br />Attorneys for holdout hedge funds awarded $1.33 billion plus interest by a U.S. court arrived for talks at the New York offices of court-appointed mediator Daniel Pollack on Wednesday morning, with hours to go Argentina faces its second default in 12 years. Pollack arrived shortly thereafter.<br/> <br />"It's a beautiful day. It will be a more beautiful day if the parties reach an agreement," Pollack told Reuters as he entered.<br/> <br />Argentine Economy Minister Axel Kicillof arrived shortly after 11 a.m. EDT (1500 GMT) for the talks.<br/> <br />The holdout funds are demanding demand full repayment on b
