Señal Argentina · October 16, 2026
Machine translation of the Spanish original. Read the original
On Thursday, October 15, 2026, the opposition failed in its attempt to repeal DNU 70/2023 in the Chamber of Deputies. The special session failed to reach a quorum: it gathered 121 lawmakers of the 129 required. The pro-government bloc's push had the backing of governors such as Osvaldo Jaldo, Maximiliano Pullaro, and Carlos Sadir, whose deputies did not take to the floor. With this thwarted session, the decree remains fully operational under Law 26.122, as it has not been rejected by both chambers.
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Governors' help saved DNU 70 and shielded Milei's deregulation framework
On Thursday, October 15, 2026, the opposition failed in its attempt to repeal DNU 70/2023 in the Chamber of Deputies. The special session failed to reach a quorum: it gathered 121 lawmakers of the 129 required. The pro-government bloc's push had the backing of governors such as Osvaldo Jaldo, Maximiliano Pullaro, and Carlos Sadir, whose deputies did not take to the floor. With this thwarted session, the decree remains fully operational under Law 26.122, as it has not been rejected by both chambers.
Why it matters
De facto ratification preserves deregulation across foreign trade, hydrocarbons, commercial aviation policy, and private contracts. For the market, it dispels the risk of a legal rollback that would have altered existing contracts. At the same time, it confirms the Executive branch's ability to forge agreements with provinces and block opposition initiatives. Nevertheless, coming so close to quorum shows that regulatory stability still hinges on ad-hoc negotiations and recurring political concessions.
What to watch
The realignment of the opposition's legislative agenda for upcoming sessions in the lower house. It is worth monitoring fiscal pacts between the Casa Rosada and the provinces that helped thwart the quorum. Any new attempts by opposition blocs to address presidential decrees also remain to be seen.
What it means for investors
Regulatory ratification provides operational certainty to key sectors such as energy and utilities. For local portfolios, it reduces the regulatory risk premium on corporate equities tied to these areas. However, ongoing political tension suggests maintaining caution on assets heavily dependent on the legislature.
Also matters
Country risk (EMBI) topped 620 points. The index prepared by JP Morgan stood at 622 points, weighed down by falling dollar bonds. The indicator is heading toward its seventh consecutive rise amid global fears of higher interest rates. Ámbito Finanzas →
The Treasury raised extra peso funds. The Economy Ministry rolled over 136% of maturities and raised an additional $1,75 trillion in its latest auction. Nearly 60% of placements went to securities maturing after the elections. La Nación Economía →
Dashboard
| Official dollar | $ 1.530,00 | -0,3% |
| MEP dollar | $ 1.536,00 | -0,2% |
| CCL dollar | $ 1.616,00 | -0,1% |
| Blue dollar (informal rate) | $ 1.545,00 | -0,3% |
| CCL / official spread | 5,6% | |
| Country risk (EMBI) | 622 bp | +11 bp |
| Merval | 2.859.051 points | +0,8% |
| Monetary policy rate | 20,9 % TNA | +0,20 pp |
| BCRA reserves | USD 49.845 M | +136 USD M |
| Oil | USD 95,90 | -2,1% |
| Soybeans | USD 1.261,50 | -0,1% |
| Copper | USD 6,63 | +1,8% |
| S&P 500 (SPY) | USD 771,79 | +0,3% |
| VIX | 16,5 points | -2,4% |
| U.S. 10-year rate | 5,09 % | -0,10 pp |
What to watch today
| Today | Construction Cost Index (ICC). September 2026 AR |
| Today | Wholesale Price Index System (SIPM). September 2026 AR |
| Today | Treasury · Auction settlement AR |
| Today | Monthly valuation of the child-rearing basket for early childhood, childhood, and adolescence. September 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 take into account individual situations. Trading in financial markets carries the risk of loss. Consult a registered financial advisor before making decisions (Law 26.831).
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