Argentina Debt Has Best Week Since 2022 on ‘Circuit Breaker’ Aid

The rebound in Argentine assets this week has been torrid. The peso has soared 10%, stocks have jumped 7% and the government’s foreign bonds have posted gains of 22%.

All of it — or most of it, at least — has been orchestrated by US Treasury Secretary Scott Bessent, who came to the rescue of Argentine President Javier Milei by pledging a financial lifeline to help the government defend the peso, guarantee debt payments and keep its free-market reform agenda on track.

The gains, the biggest in the world this week, follow accelerating declines sparked by Milei’s staggering loss in ...