Argentina 2035 Dollar Bond Hits One-Year Low After US Election

The move is less about Argentina's own fundamentals than about a repricing of external support: the selloff is being framed around potential loss of access to the US Exchange Stabilization Fund, which has been part of the peso defense toolkit. That makes the spread widening a political-risk signal as much as a credit signal, and it puts the sovereign's funding costs and the peso backstop in the same conversation. Whether the market's concern over US support proves durable, or fades once policy signals clarify, is the open question worth watching.