Wall Street Is Wary of Being Burned by the ‘Milei Trade’ (1)

It’s going to be a pivotal moment for the Milei trade — and nobody wants to be caught on the wrong side of it again.

The frantic selling that hammered Argentina’s markets after President Javier Milei’s party suffered a defeat at the polls last month has left global investors bracing for another potential hit in the wake of the legislative elections on Sunday.

Money managers and strategists say that if his La Libertad Avanza coalition can secure one-third of the seats in Congress, markets could see a bounce-back. But even with that low bar — before last month’s loss, ...