Thursday, October 28, 2010

Please Cry for Me, Argentina

Buenos Aires said tearful goodbyes
At Kirchner's  surprising demise,
Though some, less well bred,
Spoke ill of the dead,
In the form of new bull market highs.

The sudden death by heart attack of Argentina's ex-President Néstor Kirchner ignited a rally in Argentine stock and bond markets. Along with his now-widow, current President Cristina Fernández de Kirchner, the deceased had mapped out a political dynasty marked by heavy state intervention in the economy. His passing during an election season improves the chances of the market-friendlier opposition against Mrs. Kirchner.

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