Argentina’s dollar bonds soared on Monday 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.
The nation’s debt jumped across the curve in early trading, with dollar notes due in 2035 up more than 13 cents to trade at a record 70.34 cents on the dollar, according to indicative pricing compiled by Bloomberg. The country’s bonds led gains among emerging-market peers.
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, according to data publ
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