Argentina faces ARS 10 trillion maturities as Treasury sets Feb. 11 debt auction menu
“They are high, obviously,” Economy Minister Luis Caputo said when asked about peso interest rates; he blamed the level on pre-election volatility and a “political attack” against the administration
Argentina’s Economy Ministry published the instrument menu for the Feb. 11 debt auction, closely watched by markets given the size of maturities: nearly ARS 10 trillion (around USD 7 million), about ARS 9 trillion of which is held by private investors.
The official call includes fixed-rate Treasury bills (Lecap) maturing in April, July and November 2026, plus reopenings, and a capitalizing bond due in January 2027. On the floating-rate side, the Treasury will offer securities linked to the Tamar rate, including a bond maturing in February 2027. The menu also features CER inflation-linked bonds across several maturities and a reopening of a dollar-linked zero-coupon bill due April 2026.
Attention is centered on funding costs. “They are high, obviously,” Economy Minister Luis ‘Toto’ Caputo said when asked about peso interest rates; he blamed the level on pre-election volatility and a “political attack” against the administration, according to radio remarks cited by local reporting.
In the previous auction, the Treasury achieved a 124% rollover and validated higher yields at the short end; Romano Group noted the shortest Lecap accounted for roughly half of the financing raised. For background, La Nación and Ámbito have reported that February concentrates sizable maturities and that auction outcomes are shaping the peso yield curve.
