All options for stabilization are on the table."

This morning, Argentine bonds are extending gains following a follow-up post on X by Bessent that  the Trump administration "stands ready to do what is needed to support Argentina and the Argentine people."

Specifically, Bessent writes that the US is discussing a swap line with Argentina and is ready to buy up the country's dollar bonds.

"The Treasury is currently in negotiations with Argentine officials for a $20 billion swap line with the Central Bank," Bessent said on X.

"We are working in close coordination with the Argentine government to prevent excessive volatility."

Adding:

"In addition, the United States stands ready to purchase secondary or primary government debt."

Argentine bonds are ripping higher on the news...

Bessent's comments come after Trump's Truth Social post supporting his "very good friend" Javier Milei: