Bessent Touts Swap, Not ‘Money,’ as Argentina Shores Up Peso

Treasury Secretary Scott Bessent reiterated support for Argentina on Thursday, but later warned any aid wouldn’t involve outright US investment, triggering steep swings in bond prices.

The currency market was more stable, largely because Javier Milei’s government sold dollars for a third straight day to defend the peso.

Bessent said on X early Thursday that the US would do “what is necessary” to help Argentina, triggering a surge in the bonds. A little later, he told CNBC that this didn’t mean putting money into the country, a caveat that sent the notes back down again. Later still, a report ...