Update (1020ET):

Argentina's bonds, currency, and equities surged early Monday after President Javier Milei's party secured a crucial midterm victory. The result is key to preserving Milei's sweeping economic reset in a country crushed by decades of nation-killing socialist mismanagement. 

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." 

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. 

Milei then thanked Trump on X: