Argentina Bonds Hit Lowest in a Year on Growing Milei Pressure

Argentina’s dollar bonds posted some of the worst losses in emerging markets Thursday, putting them on track for the longest weekly rout since April as pressure on President Javier Milei’s government continues to build.

Investors had hoped midterm elections next month would boost Milei’s support in Congress enough to push his economic reform agenda forward. But with his disapproval ratings on the rise, the economy contracting and a string of political setbacks — from corruption scandals to pushback from lawmakers — traders began ditching the country’s assets.

Bonds extended their losses Thursday after lawmakers rejected two vetoes by Milei ...