Argentina bonds to rally as Macri takes election victory

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Argentina bonds to rally as Macri takes election victory

Argentina, Mauricio Macri
Supporters of presidential candidate Mauricio Macri celebrate at the Obelisk plaza in Buenos Aires, Sunday, Nov. 22, 2015. Macri won Argentina's historic runoff election against ruling party candidate Daniel Scioli, putting an end to the era of President Cristina Fernandez, who along with her late husband dominated Argentine politics for 12 years. (AP Photo/Victor R. Caivano) | Victor R. Caivano/AP/Press Association Images

Mauricio Macri’s victory in Sunday’s Argentine presidential elections signals a new era for the country and should lead to a further rally in the sovereign’s bonds, at least in the short term, say market analysts.

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