Overview
- The Treasury placed about 14 trillion pesos and refinanced 96.48% of maturities at roughly 35% rates, favoring fixed-rate and CER instruments over dollar-linked debt.
- The official dollar held near $1,475 at Banco Nación while the blue fell to $1,435–$1,450, becoming the cheapest quote; MEP and CCL edged lower to around $1,482 and $1,523.
- Stocks extended gains as the S&P Merval rose about 1%–1.6% locally and Argentine ADRs climbed up to roughly 11.7%, while sovereign bonds traded mixed and risk stood near 653 bps.
- The CNV’s Resolution 1092 capped Money Market funds’ exposure to the repo market starting December 1, and central bank reserves were reported at about US$41.96 billion.
- ARCA authorized converting certain tax balances and pending export rebates into U.S. dollars, drawing criticism from exporters, while officials work on a sector-based export incentive plan for 2026 and Economy Minister Luis Caputo defended the exchange-rate policy citing record export volumes.