Big Hedge-Fund Windfall in Store If Macri Wins Argentina Runoff
- Citigroup says 2033 bonds may jump 5% on Macri victory
- Macri is now favored to win presidency in election next month
Argentina's Presidential Runoff Spurs Stock, Bond Rally
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A victory by Mauricio Macri in Argentina’s presidential election next month is poised to hand a big windfall to hedge funds.
After finishing in a surprising near-tie with frontrunner Daniel Scioli in first-round voting on Sunday, Macri is now the favorite to emerge victorious on Nov. 22. Citigroup Inc. has put his odds of winning the runoff at 55 percent.