Señal Argentina · October 15, 2026
Machine translation of the Spanish original. Read the original
On October 14, 2026, the Finance Secretariat placed $6,61 trillion against maturities of $4,86 trillion. The operation reached a rollover of 136,14% and absorbed $1,75 trillion from the market. 60% of the total awarded was placed in instruments maturing after the 2027 elections. The Finance Secretariat awarded the LECAP maturing January 2027 for $2,71 trillion at a TEM of 2,04% and ruled out issuing the dollar-denominated Bonar 2029.
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The Finance Secretariat extended maturities past 2027 and absorbed an extra $1,75 trillion in the auction
On October 14, 2026, the Finance Secretariat placed $6,61 trillion against maturities of $4,86 trillion. The operation reached a rollover of 136,14% and absorbed $1,75 trillion from the market. 60% of the total awarded was placed in instruments maturing after the 2027 elections. The Finance Secretariat awarded the LECAP maturing January 2027 for $2,71 trillion at a TEM of 2,04% and ruled out issuing the dollar-denominated Bonar 2029.
Why it matters
The placement eases near-term maturities and drains pesos that could put pressure on the FX gap. For local-currency portfolios, the Treasury validated market rates and extended maturities to nearly 18 months. This reinforces banking carry trade alternatives with fixed rate and TAMAR securities. At the same time, shelving the dollar issuance avoided validating the cost of country risk (EMBI).
What to watch
The sovereign debt secondary market's reaction to the new rates validated in the auction. It will also be important to track the destination of the absorbed liquidity and the Central Bank's FX purchase volume in upcoming sessions.
Also important
TGS negotiates US$1.400 million in bank financing. The company is seeking international bank financing to process and export natural gas liquids in Vaca Muerta. The project forecasts annual sales of US$1.200 million. iProfesional Finanzas →
AtlasIntel records slight uptick in presidential approval. The latest report by AtlasIntel and Bloomberg reflected an improvement in the president's approval rating. The poll also showed parity in disapproval levels of the administration. Bloomberg Línea →
Dashboard
| Official dollar | $ 1.535,00 | 0,0% |
| MEP dollar | $ 1.539,70 | +0,2% |
| CCL dollar | $ 1.617,30 | +0,2% |
| Blue dollar (informal rate) | $ 1.550,00 | 0,0% |
| CCL / official spread | 5,4% | |
| Country risk (EMBI) | 611 bp | +14 bp |
| Merval | 2.835.843 points | -1,2% |
| Monetary policy rate | 20,6 % TNA | -0,87 pp |
| BCRA reserves as of 09/10 | USD 49.709 M | +386 USD M |
| Oil | USD 93,61 | -1,6% |
| Soybeans | USD 1.272,25 | -0,4% |
| Copper | USD 6,57 | -0,7% |
| S&P 500 (SPY) | USD 769,60 | -1,1% |
| VIX | 16,9 points | +10,5% |
| US 10-year rate | 5,19 % | -0,03 pp |
What to watch today
| Today | US · Retail sales US |
| Today | Industrial capacity utilization (UCII). August 2026 AR |
| Today | Income generation account and labor input. Second quarter of 2026 AR |
| 19/10 | Argentine trade balance (ICA). Goods. September 2026 AR |
| 21/10 | Monthly economic activity estimator (EMAE). August 2026 AR |
This is not investment advice. The information published is general and does not consider individual circumstances. Trading in financial markets involves risk of loss. Consult a registered financial advisor before making decisions (Law 26.831).
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