NEW YORK (Reuters) -Early results in Argentina’s legislative elections on Sunday showed a victory for President Javier Milei as voters strongly backed his free-market reforms and deep austerity measures, providing a strong boost for the libertarian leader to continue his economic overhaul.

The president’s party, La Libertad Avanza, took 41.5% of the vote in Buenos Aires province compared with 40.8% for the Peronist coalition, according to official results. The province has long been a political stronghold for the Peronists and the election marked a dramatic political shift.

COMMENTS:

KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO

“This evening’s unexpectedly strong performance for Milei’s La Libertad Avanza should see the peso rally when spot markets reopen and smooth the way

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