Argentina's bonds rally as Bessent details strong US support

NEW YORK, Sept 24 (Reuters) - Argentina's government bond prices rose sharply on Wednesday and stocks were set to open higher after U.S. Treasury Secretary Scott Bessent gave details on the previously pledged support for Argentine President Javier Milei and the country's markets.

Bessent said the U.S. was in negotiations about a $20 billion currency swap line with Argentina's central bank, and said it was prepared to purchase Argentina’s dollar-denominated bonds on the secondary markets.

Argentina's 2030 bond 040114HS2=1M rose over 2 cents in price to 73.42 cents on the dollar while the GlobalX Argentina stocks ETF ARGT.K added nearly 3% in premarket trading.