Key PointsArgentina raised US$3 billion in a one-year repo at 7.4%, shoring up reserves before a January 9 dollar payment. JPMorgan supplied about US$340 million, pushing its total exposure near US$2 billion, a reported decade high. A March 9–11 New York “Argentina Week” is the next stress test for a broader return to global bond markets. Demand was said to exceed the final size—around US$4.4 billion—yet the government capped the deal at US$3 billion, signaling it wanted dollars without looking desperate. The government is also staging its next audition: a March 9–11 “Argentina Week” in New York, where policymakers and business leaders will court investors.