• *AIM ****• Argentina: Position for further upside The results of Argentina's mid-term elections confirm a very favorable scenario for President Macri's governing coalition in coming months and possibly years. "Cambiemos" had a stronger-than-expected national performance, having won 13 provinces,

n leaders lost and other competitors also emerged weaker the bar is even lower for the incumbents to pass legislation. This means a strong boost for Macri's reform agenda and his bid for the 2019 presidential race. Asset prices rallied on Monday following these results, but at a measured pace, suggesti

had dominated the executive branch for over a decade. Combined with a victory for the democratic opposi- tion in Venezuela's parliamentary elections, Macri’s victory may have been the beginning of a rollback of Latin America’s populist movements, which had previ- ously made impressive gains across the r

d dominated the executive branch for over a decade. Combined with a victory for the democratic opposi- tion in Venezuela's parliamentary elections, Macri's victory may have been the beginning of a rollback of Latin America's populist movements, which had previ- ously made impressive gains across the

her tightening In terms of the external markets, as the long term picture seems intact, market should continue to price a likely second mandate of Macri administration with a strong reform agenda and ascension in credit standings, and associated ratings upgrade to BB levels over the medium term, in