Argentina’s international dollar bonds rose after U.S. Treasury Secretary Scott Bessent’s comments. The peso remained stable, local stocks rose 2.5%, and bonds fluctuated throughout the day. Milei’s reforms and negotiations with the U.S. for financial support were highlighted. The IMF emphasized the need for Argentina to commit to economic reforms.

Argentina’s financial markets have been volatile amid uncertainty over U.S. support and concerns about Milei’s reformist agenda post-election. The peso weakened this week, testing U.S. resolve. The government shutdown and pushback from U.S. Republicans added to concerns. Last month, Argentina suspended export taxes on grains, leading to $7 billion in sales.

Market uncertainty persists as the U.S. navigates support for Argentina. Washington’s polarized landscape and concerns about using taxpayer money for bailouts weigh on decisions. Expectations for a devaluation after the midterms contribute to market instability. Milei’s support may not be enough to stabilize the situation.

Read more at Yahoo Finance: Argentina’s bonds rise in wobbly session as investors eye US support pledge