Argentina assets surge after Milei’s election victory

Argentina’s financial markets surged Monday after Javier Milei’s party secured a strong win in Sunday’s mid-term elections, clearing the way for deeper economic reforms and unlocking fresh U.S.-backed support. The peso strengthened over 10% versus the dollar, local stocks jumped more than 20% and international bonds rallied between 10–15 points. Investors welcomed the reduced risk of gridlock and the likelihood of structural policy changes, though inflation and sovereign-debt challenges remain serious headwinds for the economy.