Argentine assets surged after the US pledged financial support for President Javier Milei just as he rushes to contain a massive sell-off in the nation’s financial markets ahead of midterm elections next month.
Bonds jumped by the most on record, stocks leaped 8 per cent and the currency was set for the biggest advance since May as US Treasury Secretary Scott Bessent vowed to provide “all options for stabilisation”, according to an X post on Monday (Tuesday AEST). Later, he told CNBC that the US is ready for a large, forceful intervention in Argentina.
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Bloomberg