Argentina

Argentina's markets are OK so far with Cristina Kirchner's VP bid

Cristina Fernandez de Kirchner
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.

Populism's Latin American revival could reach Argentina

Here for the book club? Fernández supporters at the launch of her new book, "Sincerely." Photo: Emiliano Lasalvia/AFP/Getty Images

Argentina's center-right ruling coalition suffered a resounding defeat Sunday in regional elections, but the lessons ahead of October's presidential vote are less clear cut.

The big picture: The landslide winner in Córdoba, incumbent Gov. Juan Schiaretti, falls between two pillars of Argentine politics — Mauricio Macri, the unpopular president, and Cristina Fernández de Kirchner, his populist predecessor. Fernández is aiming for a political comeback despite facing a slew of corruption charges.