Overview
- JPMorgan’s gauge dropped to 596 points after a broad rally in dollar bonds, marking a 10‑month low following declines of roughly 40–50 points since Friday.
- Economy Minister Luis Caputo told investors the government plans a bond repurchase and reserve accumulation, with a potential multilateral‑backed “debt for education” operation reported at about $16.3 billion in bonds.
- Equities advanced as the S&P Merval rose around 2–3%, and steel and aluminum shares outperformed after Ambassador Alec Oxenford said a U.S. trade agreement is “practically finished.”
- Analysts say sustained access to external financing likely requires the spread to settle below roughly 500 basis points alongside credible fiscal, structural, and governance reforms.
- Market commentary flags lingering risks tied to the exchange‑rate band and IMF‑linked reserve goals, with estimates of about $8.5–9.0 billion needed by December and $12.7 billion by June 2026.