Wall Street is convinced that Argentina's president Maurico Macri is a goner
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As one salty emerging markets fixed-income analyst told me in an off-the-record conversation yesterday in New York, “Macri has no chance.” The Fernandez-Kirchner ticket garnered 47.7% of the vote, significantly ahead of Macri and his moderate Peronist running mate, Miguel Angel Pichetto. The two of them polled at 32.1%.AP Photo/Natacha Pisarenko
Fernandez has historically been associated with the more pragmatic elements of the Peronist party, so some in the market think better days are ahead after the initial transfer of power. “We think it is likely that she will have a fairly high degree of influence on economic policy, at least in the immediate aftermath of an election victory,” says Brett Diment, head of emerging markets debt at Aberdeen Standard Investments.
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