Overview
- Authorities said the transfer to Bank of New York Mellon for foreign-law bonds was completed, with local-law payments due today.
- The Treasury is covering the payout with about $2.3 billion from its own dollar deposits and additional dollars bought from the central bank.
- The central bank’s 372‑day repo totals $3 billion at roughly SOFR plus 400 bps (~7.4% annually), drew $4.4 billion in offers, and is backed by Bonares 2035/2038 with major banks reported as counterparties.
- Economy Minister Luis Caputo argues the move does not add net debt, a view publicly challenged by economists who say consolidated liabilities or interest costs will rise.
- Market gauges stayed cautious, with the J.P. Morgan risk indicator near 579 bps, as investors assess reinvestment flows and a heavy 2026 external payment schedule estimated in the tens of billions of dollars.