Argentine assets surged after the US pledged financial support for President Javier Milei as he rushed to contain a massive sell-off in the nation’s financial markets ahead of midterm elections next month. Later, he told CNBC that the US is ready for a large, forceful intervention in Argentina. Pedro Quintanilla-Dieck, a strategist at UBS, said the speed with which Bessent publicly voiced support for Argentina was unexpected, as was the tone of his comments. “He characterised Argentina as a systemic ally and indicated that all stabilisation tools are being considered,” Quintanilla-Dieck said. “The sustainability of the rally will depend on the specific tools the US Treasury ultimately uses to support Argentina, as well as the magnitude and conditions of any aid package.”by Nicolle Yapur, Bloomberg