Surprising election results. What comes next?

The landslide victory of the Fernandez ticket in the primaries has been an unexpected result that shook financial markets and introduced a high level of uncertainty regarding the evolution of economic and financial variables during the transition to December 10th, when the inauguration of the new president takes place, and about the economic policies that are likely to be implemented thereafter as well as the possible outcomes. We believe, as most market participants, that the electoral results (in which the Fernandez duo won by 15 percentage points) are extremely difficult to overturn in the general election, and that Alberto Fernandez is likely to be elected in the general election on October 27th.