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2030 Bonds Drop Most Since July 2022 Following Massa First Round Victory

ARGENTINA
  • ARGENTINA DOLLAR BONDS DUE 2030, 2038 FALL AT LEAST 2.9 CENTS (BBG)
  • ARGENTINA 2030 BONDS DROP MOST SINCE JULY 2022 ON ELECTION (BBG)
  • As noted earlier - in defiance of polling and betting markets, Economy Minister Sergio Massa won around 37% of the vote with Javier Milei in second with 30%. Patricia Bullrich of the centre-right opposition bloc, Juntos por el Cambio, received 23.9%. The results set up an unpredictable second round with the candidates offering polarised solutions to Argentina's economic malaise.
  • Massa sent a message earlier via social media thanking the more than 25 million Argentines who went to vote, stating that democracy came out stronger.
    • Massa said “On November 19 we have to define whether we build a country that embraces everyone or a country of every man for himself. I am going to embrace every Argentine man and woman, no matter how they think, no matter their religion, no matter their social condition.”

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