Argentina’s Markets Surge as Milei Win Eases Fear of a Crisis

Argentina’s markets rallied sharply after President Javier Milei’s party pulled off a surprisingly strong victory in Sunday’s legislative elections, defying investor fears of a setback that would jeopardize his free-market overhauls and push the nation toward another economic crisis.

The government’s bonds — which had tumbled ahead of the vote — rose across maturities, with dollar-denominated notes due in 2035 surging as much as 14 cents to 71.26 cents on the dollar. Meanwhile, the country’s main stock benchmark soared as much as 23%, its biggest jump since Milei was first elected in Nov. 2023. The peso ended the ...