Donald Trump, in an unusual interference just days before the elections, sent an ultimatum to Argentine voters: “If Milei loses, we will not be generous with Argentina,” the head of state fired.
After Trump and Milei’s press conference at the White House with their economic teams, Argentine assets plummeted. Stocks fall up to 10% and bonds collapse more than 7%.
A few words from Trump (“if Milei doesn’t win, let them fix it”, paraphrased) were enough to wipe out the appreciation of bonds and stocks that Bessent achieved with his open intervention in the Argentine exchange market.
— Esteban Mercatante (@EMercatante) October 14, 2025
In a few minutes, Trump’s announcements brought down the “confidence” of the markets that had changed their expectations after the announcements and direct intervention in the exchange market by the head of the North American Treasury, Scott Bessent.
“We are going to work closely with President Milei. We believe he is going to win, he should win. And if he doesn’t win, we are not going to waste our time,” added the North American president, highlighting that the aid is only for Milei.
Bonds and stocks in red
Argentine assets were on a rising day with growing expectations until Trump’s statements and his ultimatum that “if Milei loses, we will not be generous,” caused a change in the local market. In a matter of minutes, Argentine bonds fell nearly 10% intraday, while stocks also plummeted. The dollar, for its part, touched $1,400 again, but closed $10 above yesterday. We will have to see the reaction tomorrow when the Single and Free Exchange Market opens.
Source: www.laizquierdadiario.com
