Overview

• The Finance Ministry seeks to roll ARS 5.6 trillion in private‑held maturities in today’s auction, the first since public U.S. backing shifted sentiment.
• The central bank cut its one‑day peso rate by 10 points to 25%, compressing secondary‑market yields on peso debt ahead of the placement.
• The offering includes dollar‑linked bills and capitalizable notes, with added short‑tenor FX‑linked instruments to draw exporters hedging new inflows.
• The government projects roughly US$7 billion from a temporary cut to agricultural export taxes, bolstering near‑term dollar supply.
• Public endorsements from President Trump and Treasury Secretary Scott Bessent, who flagged a potential US$20 billion facility, pushed the dollar and risk metrics lower, while economists stress any U.S. money would be debt and highlight reserve rebuilding as the core challenge, with reports of Chinese state‑linked buyers reassessing purchases.