Just days before the elections, analysts warn that the direction of the market will depend both on the political result and on the continuity of United States support for the Milei administration.
Seven wheels away from the legislative elections, the Financial markets move with extreme sensitivity to any political or economic development, in a context in which the influence of the US Treasury on the local market adds a new layer of uncertainty.
According to a report by Delphos Investment“Argentine financial markets are entirely subject to the news, especially those related to internal politics, and the involvement of the US Treasury in the same local financial and monetary markets.”
Looking ahead to October 26, surveys emerge as a potential catalyst. From the consulting firm Delphos Investment they explain that “a technical tie would be read as a relief and could boost a recovery, but if the polls show the ruling party as a big loser, the blow could deepen.”
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Even so, Delphos highlights an encouraging side: “Valuations are so depressed that any positive catalyst could have a greater impact than the bad news. Although, of course, the latter does not stop weighing.”
Meanwhile, since the consultant 1816 They warned that “investors will be particularly attentive to any indication of the political outcomes on which continued US support for the Milei administration depends.”
Meanwhile, Outlier highlighted the disorder in which the meeting with Donald Trump took place: “The lack of specific announcements, with which there had been strong speculation in the previous one, the changes in the agenda and format of the meeting and the aforementioned statements left little taste for the expectations that had been generated and fed. Something that is already the rule in this administration, since these last ones are overdrawn in the previous ones.”
In that framework, Analysts agree that the combination between the electoral definition and Washington’s position will be decisive for the direction of Argentine assets in the coming weeks.
Source: Ambito
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