September 24, 2025
United States:
Bessent Says US, Argentina Discussing $20 Billion Swap Line
The US is discussing a $20 billion swap line with Argentina and is ready to buy up the country’s dollar bonds, Treasury Secretary Scott Bessent said, giving President Javier Milei “a bridge” until key midterm elections next month.
The move shows President Donald Trump eagerness to help his libertarian ally fend off a run on the peso.
Europe:
German Business Outlook Declines in Blow to Merz’s Growth Pledge
German business confidence unexpectedly dropped, highlighting the fragility of Chancellor Friedrich Merz’s plan to restore growth in Europe’s biggest economy.
After four months of gains, an expectations index by the Ifo institute dropped to 89.7 in September from a revised 91.4 in August, a release Wednesday showed. Analysts polled by Bloomberg had predicted an increase to 92.
Asia:
Japan Plans Cut in Super-Long Bond Sales at Liquidity Auctions
Japan proposed decreasing by ¥100 billion ($675 million) issuance of super-long term government bonds at each enhanced liquidity auction for October and December, the Ministry of Finance said after meeting JGB primary dealers on Wednesday.
Issuance will be cut to ¥250 billion from ¥350 billion for debt due in more than 15.5 years and less than 39 years at each of the scheduled October and December debt auctions, the ministry said.
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