Argentina Faces Economic Uncertainty as Presidential Election Heads to Runoff

Argentina's markets likely to face selloff after presidential election goes to runoff, dashing hopes for immediate reforms.

Economy Minister Sergio Massa did better than expected, forcing runoff with libertarian Javier Milei.

Government expected to continue spending policies ahead of runoff, adding pressure to inflation and peso.

Milei and candidate Patricia Bullrich seen as more likely to pursue economic overhaul if elected president.

Investors initially reacted positively as peso gained vs dollar, but bonds likely to fall on extended policy outlook.