Argentina Investors Poised for Rally After Milei Election Win
Argentine assets are set to rally on Monday morning following President Javier Milei's strong showing in legislative elections, which exceeded the most bullish forecasts.
The election results should also help ease doubts about whether Argentina will continue to receive crucial support from the United States, according to the Editor-in-Chief of the Buenos Aires Times.
- Milei's party won 41% of the votes, with 64 seats in the lower house of Congress and 13 Senate posts.
- Markets had forecast the governing coalition to win around 30% of seats.
The peso was already posting gains in the crypto market Sunday as the results were announced.
Author's summary: Milei's election win to boost Argentine assets.