Argentina’s primaries put Scioli in the driving seat

With most of the votes in Argentina’s primary elections now counted, it appears that Daniel Scioli, of the ruling left-wing Front for Victory coalition, is on course to win the Presidential elections on 25th October. But he will probably have to battle it out with Mauricio Macri in a second round run-off. Whatever the outcome, we think the bigger picture is that markets are still being overly optimistic onthe prospects for major reform under either candidate.