Argentine Bonds, Currency Collapse As Leftist Wins Stunning Victory In Weekend Primary

From zerohedge.com

Argentine markets were in turmoil on Monday after voters roundly rejected pro-business reformist president Mauricio Macri and his austere economic policies in primary elections held over the weekend. Instead, Populist Peronist candidate Alberto Fernández won the weekend primary by a much wider-than-expected margin, leaving him a shoe-in to win in the fall, and end Argentina's one-term experiment with a more business friendly regime. Argentina’s 2028-maturing, euro-denominated government bond was down more than 13 cents in European trading, Tradeweb data showed. The Argentine century bond also collapsed. Meanwhile, ... (full story)