A surprise first place for Argentina's ruling Peronists in a general election on Sunday could calm market fears about a runaway win for libertarian radical Javier Milei who has pledged to dollarize the economy and shut the central bank.
of the vote ahead of right-wing outsider Milei with just over 30%, far outperforming pre-election polls and setting up a polarized run-off vote on Nov. 19 between the two.
Bonds have also been slipping, while the stock market - seen as a relative safe haven for local investors - has been jittery. "I don't think Massa's victory will trigger a sell-off of the few remaining holders of Argentine assets," the trader said. "The entire market is in favor of the results they say on the trading desk."
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