Argentina's President Javier Milei celebrates after winning in legislative midterm elections in Buenos Aires, Argentina, Sunday. (AP Photo/Rodrigo Abd)

BUENOS AIRES, Argentina (AP) — Markets in Argentina rallied, the peso surged and government bonds jumped on Monday as President Javier Milei hailed his party’s resounding victory in midterm congressional elections as a mandate to press ahead with radical free-market reforms of Argentina’s long-troubled economy.

Investors regained confidence in the chronically depreciating peso they had been dumping in droves just last week to hedge against a Milei defeat. The currency surged more than 10% to trade at over 1,300 per dollar on Monday. Argentine stocks soared as much as 40% during the trading day and the country’s dollar-denominated bonds se

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