Argentina Investors Poised for Rally After Milei Election Win
Argentine assets are set to rally as President Javier Milei's strong showing in legislative elections beat even the most bullish of forecasts.
With more than 90 percent of ballots counted, Milei's party got 41 percent of the votes, winning 64 seats of the 127 up for grabs in the lower house of Congress and 13 of the 24 open Senate posts.
The results should also help ease doubts on whether Argentina will continue to receive crucial support from the United States, according to the Editor-in-Chief, Buenos Aires Times.
- The peso was already posting gains in the crypto market Sunday as the results were announced.
- Markets had been forecasting the governing coalition would win about 30 percent of seats.
Argentine assets are set to rally as President Javier Milei’s strong showing in legislative elections beat even the most bullish of forecasts, easing investor concern his economic overhaul of the crisis-prone nation would stall.
Author's summary: Argentina's assets to rally after Milei's election win.
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