Argentina Investors Burned by Politics Dread What Comes Next

Bonds slide Monday as vote goes to second round Nov. 19
Economy Minister Massa to face libertarian Milei in runoff

WATCH: Massa surprised pundits by taking 37% of the presidential vote, forcing a second-round ballot with Javier Milei.Source: Bloomberg

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By Scott Squires and Giovanna Bellotti Azevedo

October 23, 2023 at 2:52 AM UTC

Updated on

October 23, 2023 at 8:14 PM UTC

This article is for subscribers only.

Argentina investors are, once again, running for the exits after being caught off guard by the nation’s notoriously complicated politics.

Assets slumped Monday after Sergio Massa, the economy minister turned presidential candidate, pulled off a surprise comeback in a first round vote. After a dismal showing in August primaries, he took roughly 37% of the ballots Sunday, forcing a second-round with runner-up Javier Milei, the firebrand libertarian who got around 30% support with nearly all votes counted.