October 28, 2013 / 2:17 PM / 4 years ago

Argentina dollar-denominated bonds jump 1.5 pct on election results

BUENOS AIRES, Oct 28 (Reuters) - Argentine dollar-denominated bonds rose an average 1.5 percent in over-the-counter trading Monday morning after voters handed President Cristina Fernandez’s government a defeat in mid-term elections the prior night.

Fernandez’s allies took a beating in the Sunday vote, shrinking her majority in Congress, ending chances of a constitutional change to allow her a third term and kicking off the contest to succeed her in 2015.

Under Fernandez, who was first elected in 2007, protectionist trade policies, currency controls and heavy regulation of the country’s key grains sector have helped put Argentina at odds with international markets.

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