Argentina’s international dollar bonds rallied on Monday, with the 2046 issue jumping more than 6 cents after U.S. Treasury Secretary Scott Bessent said “all options are on the table” to support Argentina’s government.
Bessent said swap lines, direct currency purchases, and purchases of U.S. dollar-denominated government debt could be used in support of Argentina, a “systemically important U.S. ally in Latin America,” adding Argentine President Javier Milei and U.S. President Donald Trump would meet on Tuesday.
Earlier, the Argentine government had announced it would remove export taxes on all grains through next month, which would take the move past a key midterm election in late October.
The 2046 maturity (040114HW3=1M) was up 6.24 cents to bid at 53.41 cents on the dollar, data from MarketAxess showed.
