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Former President of Argentina Cristina Fernandez de Kirchner will run for vice president. Photo: Eitan Abramovich/AFP/Getty Images

Investors have been flummoxed by the latest development out of Argentina, that former President Cristina Fernandez de Kirchner will run for vice president rather than president, as most had expected.

What's happening: While investors worried aloud that a Kirchner presidential victory in October's election would cause the country's bonds to default, torpedo its stock market and further sink its depreciating currency (already worth about one-third of what it was just a few years ago), the curve ball of a Kirchner vice presidency has so far gotten market approval.

  • The country's sovereign bonds edged higher for much of the week, its Merval stock index rose 5% and its currency gained against the dollar.

What's next? The market's comfort with a return of Kirchnerismo will be tested again on Monday. A new poll from Argentina's Pagina 12 newspaper shows Kirchner and her running mate, Peronist Alberto Fernandez, are close to clinching victory in a first round vote.

  • The poll shows Kirchner and Fernandez leading current President Mauricio Macri, who has become very unpopular as a result of Argentina's economic "Macrisis," by close to 10 percentage points.
  • To avoid a second round, a candidate must receive at least 45% of the first round vote or 40% and win by a margin of at least 10 percentage points.

Go deeper: Populism's Latin American revival could reach Argentina

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
1 hour ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”