Following a recent trip to Buenos Aires, America's "Iron Man" Elon Musk said investors should put money to work in Argentina.

Is he right?

For starters, the market looks to be in a risk-on moment. Argentina is pretty risky, so the risk-on trend is Argentina's friend.

Global equities reached an inflection point on April 19. That was when Iran signaled that it was not going to climb the escalatory ladder with Israel over Tel Aviv's response to the October 7 terrorist attacks by Hamas against civilians attending a music festival not far from the Gaza strip.

That...