Not the best news from Argentina…

US Treasury Secretary Scott Bessent has said “all options” are on the table for the Trump administration to support Argentina through a bout of severe market volatility, throwing a lifeline to libertarian president Javier Milei.

In comments on X, Bessent said that financial assistance could include purchases of Argentina’s currency or sovereign debt by a fund controlled by the US Treasury. Milei, a close ally of Donald Trump, is trying to contain a run on the peso and slide in asset prices after a disappointing local election result unnerved markets.

Milei and Bessent are set to meet Trump in New York on Tuesday…

He said that options for a support package “may include, but are not limited to, swap lines, direct currency purchases, and purchases of US dollar-denominated government debt from Treasury’s Exchange Stabilization Fund”.

But that is not surprising either, not if you have been reading MR.  Here is more from the FT.