📊 Daily ETF Overview
Earlier this month, we highlighted Global X MSCI Argentina ETF $ARGT after it had broken down from its prior highs. At the time, we noted that Argentinian equities had been under pressure due to political setbacks faced by Javier Milei. The rally that preceded this weakness was largely driven by optimism around Milei’s aggressive economic liberalization agenda.
As the market began pricing in the possibility of Milei losing political ground in the midterms, sentiment swung sharply. But the results flipped that narrative on its head — ARGT closed up +18.80% today, marking its strongest single-day performance on record.
This isn’t just a big move on a chart. It’s a clear reminder of how political narratives can dominate flows in emerging markets — and how quickly those narratives can reverse.
Momentum tends to cluster around inflection points like this, and if today’s price action is any indication, the market is once again leaning into Argentina’s reform story.