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Argentina Investors Look Ahead After Fernandez Pulls Out Win

  • Fernandez wins presidency as voters rebuff austerity
  • Markets had priced in Macri loss, but not such a tight one
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Fernandez Wins in Argentina
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Argentina investors are watching for leading candidate Alberto Fernandez’s next steps after the results of Sunday’s presidential election were tighter than expected.

Fernandez won the race for the country’s top job with 48% of the vote, above the 45-point threshold needed to win outright. But with 91% of votes counted, the big surprise of the night was that incumbent President Mauricio Macri narrowed Fernandez’s margin of victory to seven points from a 16-point gap in an August primary.