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☆ Argentina’s market rallied sharply on a historic election. How investors can play it
▼ + stars: | 2023-11-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Argentina last week held a historic election in which libertarian candidate Javier Milei came out victorious, sending the country's stock market surging. The Merval , Argentina's stock market benchmark, rallied 42% for the week. The trade Trading in Argentine stocks has historically been a volatile endeavor. That said, there are ways for investors in the U.S. to get exposure to the Argentine market if they think stocks can rise during Milei's presidency. Other U.S.-listed Argentine stocks include oil name YPF — which surged nearly 57% last week — and Banco BBVA Argentina , which is up 34% in 2023.

Persons: Javier Milei, Milei, Diego Pereira, –, Jorge Morgenstern, GlobalX Organizations: JPMorgan, Senate, HSBC, Argentine, Banco BBVA Argentina Locations: Argentina, Argentine, U.S, . U.S

☆ Opinion: Young Colombians had high hopes for their first leftist president. It didn’t last
▼ + stars: | 2023-08-23 | by ( Opinion Kristina Foltz | ) edition.cnn.com time to read: +9 min

Before Petro, Colombia had been governed for decades by liberal and conservative parties forming part of the broader Colombian political right. A demonstrator holds a tainted image of Colombian President Gustavo Petro (left) during an anti-government protest in the capital on August 16. Luisa Gonzalez/ReutersBut what about young Colombians, who, like me, are worried about the direction Petro is taking the country? Ivan says he was drawn to Petro because, “he always had a message about generating free quality education for young people. His successor, President Nicolas Maduro, continued Chavismo policies that have destroyed the Venezuelan economy.

Persons: Kristina Foltz, Read, — Gustavo Petro —, I’m, — Nicolas Petro —, Nicolas ’, Petro, Gustavo Petro, Luisa Gonzalez, Ivan Oros, “, ”, Ivan, —, Ivan’s, Juan Manuel Santos, Ivan Duque’s ‘, he’s, Nicolas —, Ariel Ricardo Armel, Juan Valdez, ” Ariel, Hugo Chavez, Nicolas Maduro, Ariel, Armando Duarte Galan, governability, it’s Organizations: Rotary Ambassador, CNN, Petro, Reuters, La Primavera, Revolutionary Armed Forces, Colombian, University of Pamplona, Social Communications, Colombian Organization, Students, El, SISBEN, WHO, US, Twitter, Facebook, Plaza Bolivar Locations: Bogotá, Colombian, Latin America, Colombia, Venezuela, Venezuelan

REUTERS/Agustin Marcarian/Illustration/File PhotoNEW YORK, Aug 15 (Reuters) - Investors in Argentina's financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The result initially introduced uncertainty into asset pricing, with traders selling stocks and dollar bonds - but prices later stabilized and the local stock market closed over 3% higher. Investors said this would outweigh any worries about Milei, despite some of his heterodox pledges, including to axe the central bank and dollarize the economy. Milei faces a significant challenge still to turn the primary election win into a successful run to the presidency. The central bank also increased the benchmark interest rate to 118% from 97%.

Persons: Agustin Marcarian, Javier Milei, Patricia Bullrich, Milei, Kimberley Sperrfechter, Sergio Massa, Cristina Fernandez de Kirchner, Milei's, Walter Stoeppelwerth, Shamaila Khan, Rowe Price, Samy Muaddi, Rodrigo Campos, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Economics, Kimberley, Peronist, Investors, Gletir SA, Emerging Markets, Asia Pacific, UBS Asset Management, Jorgelina, Thomson Locations: Argentina, Argentine, MERV, Rosario

☆ Spain has rejected the far right. But who governs next is still unclear
▼ + stars: | 2023-07-24 | by ( Al Goodman | ) edition.cnn.com time to read: +5 min

Madrid CNN —The smiles on Spain’s election night told part of the story. “Spain has contained inflation and now it has contained the ultra-nationalist Vox party,” Andres Villena, a professor at Madrid’s Complutense University, told CNN Monday. Santiago Abascal, leader of the far-right Vox party, delivering a speech at his party's headquarters on July 23, 2023. Our priority is Catalonia, not the governability of the Spanish state.”But for Sanchez and Feijóo, running Spain is the priority. Sanchez, the incumbent leader, starts this coalition-building process after helping to successfully halt the advance of the far right.

Persons: Pedro Sanchez, Yolanda Diaz, Alberto Nuñez Feijóo, Santiago Abascal, Sanchez, Vox, Alberto Nuñez Feijoo, Marcos del Mazo, ” Andres Villena, Giorgia Meloni, –, King Felipe VI, Vincent West, Feijóo, Villena, Joe Biden, Volodymyr Zelensky, Alejandro Martinez Velez, Junts, Miriam Nogueras, … Sanchez, ”, ’, Spain’s Organizations: Madrid CNN, Socialist, Popular Party, Vox, Feijóo’s, Spanish Socialist Workers ’ Party, PSOE, Madrid’s Complutense University, CNN, Reuters, Socialists, Basque Nationalist Party, Spanish, Europa Press, Socialist Party Locations: Madrid, Spanish, Spain, Italy, Finland, Catalonia, Basque, Kyiv, Sunday's, Barcelona

☆ 'Playing with fire': Mass protest planned against Mexico electoral overhaul
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +3 min

MEXICO CITY, Feb 26 (Reuters) - Mexico's opposition plans a mass protest on Sunday against President Andres Manuel Lopez Obrador's drive to shrink the independent electoral authority, arguing the changes threaten democracy - an accusation he vigorously denies. Mexico's Congress last week approved a major overhaul of the National Electoral Institute (INE), which Lopez Obrador has repeatedly attacked as corrupt and inefficient. According to the INE, the president's overhaul violates the constitution, curbs the institute's independence and eliminates thousands of jobs dedicated to safeguarding the electoral process, making it harder to hold free and fair elections. This week he called the INE "anti-democratic" and a tool of the ruling elite, accusing it of fomenting electoral fraud. Critics of the INE overhaul argue Lopez Obrador is not confident MORENA can retain power without interference in the electoral process.

The government of leftist President Luiz Inacio Lula da Silva bolstered security measures nationwide as flyers appeared on pro-Bolsonaro social media calling for mass demonstrations in Brazilian cities to "retake power." Ricardo Cappelli, the federal official in charge of public security in the capital since Sunday, said all security forces had been mobilized to prevent protests and that there would be no repeat of rioting. So far, 727 of the over 1,500 involved in Sunday's riots have been imprisoned. The Supreme Court on Wednesday upheld Moraes's arrest warrant for Anderson Torres, Bolsonaro's former justice minister who oversaw public security in Brasilia during Sunday's riots. The former president, whom Lula has blamed for inflaming the protests, did not mention Sunday's riots.

Far from ignoring Lula's challenges to control the risks of this institutional shock, investors and analysts said however that the focus remains on fiscal issues when assessing the new government in the long term. If the new parameters are considered weak by the market, it could renew fears of fiscal dominance and prevent the BCB from easing." Discussions of the new fiscal framework are key under Lula's administration, after policymakers have highlighted inflationary risks arising from leftist President-elect's 168 billion reais ($32 billion) spending proposal to meet campaign promises. "The unsettled and deeply divided political environment and related high social tension keeps risk premia high and could undermine overall governability." (.JPMEGDBRAR)A mobilized opposition with the "potential to turn violent" is the main conclusion from Sunday's protests for the political risk advisory Eurasia Group.

☆ Covid leads to long Covid, in governments as well as people
▼ + stars: | 2022-10-11 | by ( Brian Michael Jenkins | Brian Michael Jenkins Is An Army Combat Veteran Who Currently Serves As Senior Adviser To The President Of The Nonprofit | Nonpartisan Rand Corporation. His Latest Book Is | ) www.nbcnews.com time to read: +9 min

Unlike previous pandemics, however, Covid didn’t see the same offsets in unifying sentiment. There were many explanations for this, including underreporting of Covid deaths in many countries, but the optics were not good. Democratic governments imposed controls that intruded into ordinarily personal space, while authoritarian governments exploited the pandemic to tighten their control. The decline in Covid numbers, if it holds, will not reverse these developments after the November elections. Just as we may talk about societal comorbidity, societies may suffer from long Covid — an impaired functioning of democracy that may persist long after the contagion survives.

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