Overview

• Treasury Secretary Scott Bessent said the United States bought Argentine pesos and finalized a $20 billion currency swap line after four days of talks with Economy Minister Luis Caputo.
• The peso strengthened to 1,420 per dollar, New York–listed Argentine shares jumped, and sovereign bonds rose about 8% following the announcement.
• Bessent emphasized alignment with Argentina’s IMF commitments and portrayed the effort as advancing U.S. strategic interests in the Western Hemisphere.
• Senator Elizabeth Warren requested information from the Managed Funds Association on any role hedge funds played in discussions and asked for disclosures on members’ Argentina exposures by October 22.
• Warren introduced a bill to block use of the Treasury’s Exchange Stabilization Fund for Argentina, including swap lines and peso purchases, as President Javier Milei prepares to visit the White House on October 14.