Geopolitical & Economic Analysis - The US Treasury provided a $20 billion USD currency swap to Argentina, a move considered unusual as it last occurred over 30 years ago [2] - The Argentinian economy's potential failure poses no direct economic threat to the US [3] - The US intervention occurred during a period of domestic budget cuts and shutdowns [3] Political Motivations - The currency swap was perceived as a bailout of Argentinian President Javier Milei, an ally of the previous US administration, during crucial midterm elections [5] - The intervention aimed to stabilize the Argentinian peso amidst economic challenges and widespread discontent, potentially influencing the election outcome [5][6] - Javier Milei was able to hold on to enough seats in Congress to continue pushing his agenda through [6] Opportunity Cost - The $20 billion USD used for the currency swap could have funded NASA for almost a year, the EPA for two years, or provided several months of food stamps [1]

JUST IN: 🇺🇸 Bessent says U.S. expects to finalize a trade deal with South Korea in next 10 daysSouth Korea wants an Argentina-style currency swap 💵 https://t.co/1cUyETuejd ...

By Jihoon Lee SEOUL (Reuters) -South Korea's chief presidential policy adviser said on Thursday he was "optimistic" about talks to finalise a trade deal with the U.S., the latest remark by an official pointing to progress in negotiations that helped fuel an auto-led stock market rally. Kim Yong-beom and Industry Minister Kim Jung-kwan spoke to reporters before departing for the United States. They will be joining Finance Minister Koo Yun-cheol and Minister for Trade Yeo Han-koo for follow-up negotiations ...

Government Support - US Treasury Secretary expresses strong support for the government of Argentina and its financial markets [1] - The international community, including the IMF, is unified behind Argentina [2] - US Treasury has directly purchased Argentine pesos [2] - A 20 billion currency swap framework with Argentina's central bank has been finalized [2] - US Treasury is prepared to take exceptional measures to provide stability to markets [3] Market Concerns - Argentina faces a moment of acute illiquidity [1] - The exact amount of Argentine pesos purchased by the US government is not specified [3] - The 20 billion currency swap is a finalized framework, not an executed swap [4] - The Treasury is prepared to take measures, but it's not confirmed they are currently taking them [5] - Potential concerns exist regarding Argentina's business engagement with China [5]

By Cynthia Kim, Yena Park and Jihoon Lee SEOUL (Reuters) -South Korea's trade talks with the Trump administration have become increasingly dogged by political doubts this week, spooking investors who now worry Seoul may end up with a raw deal or perhaps no deal at all. The Korean won broke through the psychologically important 1,400 to the dollar level on Thursday, seen by markets as authorities' line in the sand against bearish speculative bets and opening the way for further downside. The selling ga ...

Key TakeawaysU.S. stock markets, including the Dow, S&P 500, and Nasdaq, closed at fresh record highs on Friday, September 19, following the Federal Reserve's first interest rate cut of 2025, with futures remaining largely unchanged on Sunday.The UK is significantly altering its foreign aid strategy, reducing its aid budget to 0.3% of gross national income (GNI) by 2027 to prioritize defense spending and shifting towards an "advice instead of aid" model.South Korean President Lee Jae Myung has emphasized th ...