Markets React to Milei's Midterm Triumph
Argentine stocks and the peso surged after President Javier Milei's stunning victory in midterm elections, seen as an endorsement of his radical free-market agenda.
The benchmark Merval index was up over 20% at the start of trading, and the peso appreciated by 9.5% against the dollar in early trading in Buenos Aires.
Our confidence in him was justified by the people of Argentina
US President Donald Trump congratulated Milei on his "landslide victory" via his Truth Social platform, having previously threatened to withhold aid if Milei lost the vote.
Key market indicators included a 20% increase in the Merval index and a 9.5% appreciation of the peso against the dollar, with 10-year bond yields also tumbling.
Author's summary: Milei's midterm win sparks market surge.More News
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