Argentina Bonds Jump as Milei Reform Bills Pass Senate Test (1)

President Javier Milei took a major step in his economic overhaul of Argentina, winning just enough support to advance his proposals in the Senate even as protests raged in the capital.

After weeks of tense negotiations, senators passed Milei’s market-friendly bill that included privatizations and labor law changes when his vice president broke a 36-36 tie late Wednesday. While a measure to bring back an income tax was rejected in a separate procedure, it stands a chance of being restored in the lower house.

Investors reacted positively Thursday morning. Argentina’s sovereign dollar bonds were the best performers in emerging markets ...