Default spectre returns as Argentina bonds sink on election results

Alberto Fernandez, Argentina, PASo, elections, LatAm
By Oliver West
12 Aug 2019

Bond market analysts said that conversations about Argentina assets would return to the likelihood of default as market-friendly president Mauricio Macri suffered a heavy defeat in Sunday’s primary elections.

Macri’s Juntos por el Cambio (Together for Change) coalition received just 32.1% of voter support on Sunday, versus 47.7% for Frente de Todos (Everyone’s Front), led by Alberto Fernández with left-wing former president Cristina Fernández as his running mate.

Opinion polls had mostly predicted a differential of just 3%-4%.

The ...

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