Milei's free-market reforms and aggressive austerity program have already begun to cool inflation and stabilize financial conditions, signaling to investors that the restructuring path remains intact.

The US recently provided Argentina with a combined $40 billion - $20 billion central bank swap line and a potential $20 billion loan facility.

Earlier, President Trump called Sunday's midterm election results a "big win" for Milei's party. "Not only did he win, he won by a lot." 

Milei then thanked Trump on X:

Thank you, President @realDonaldTrump , for trusting the Argentine people. You are a great friend of the Argentine Republic. Our Nations should never have stopped being allies. Our peoples want to live in freedom. Count on me to fight for Western civilization, which has succeeded in lifting more than 90% of the world's population out of poverty. 

Market reaction: 

BBG: ARGENTINE PESO JUMPS 10% AFTER MILEI'S MIDTERM ELECTION WIN

BBG: ARGENTINA DOLLAR BONDS SOAR AFTER MILEI'S MIDTERM WIN

BBG: ARGENTINA BONDS JUMP 10-13 CENTS ACROSS THE CURVE ON MILEI WIN

BBG: ARGENTINA MERVAL Stock Index Jumps 19.53% 

BBG: ARGENTINE OVER-THE-COUNTER BONDS RISE 15% ON AVERAGE -TRADERS

Biggest moves: