Overview
- JP Morgan’s index fell to about 596 points, breaking below 600 for the first time in ten months and marking the lowest reading since January 2025.
- Dollar bonds extended gains, with Global issues up as much as roughly 1.8% and New York law Globals broadly higher, leading the compression in spreads.
- Economy Minister Luis Caputo told investors the government plans to repurchase sovereign debt and build reserves, with reports pointing to a focus on 2029–2030 maturities and an education-backed swap of about $16.3 billion.
- Coverage cites prior U.S. support, including a reported $2.1 billion Treasury injection before the elections and a $20 billion swap announcement, as factors that helped reduce volatility.
- Banks and analysts note sustained readings below 500 would be needed for market access to normalize, with attention on IMF reserve targets by December and the upcoming 2026 Budget as near-term tests.