Argentine Bonds Rise on Bet Opposition to Gain From Nisman Death
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The growing political damage to President Cristina Fernandez de Kirchner following an Argentine prosecutor’s mysterious death is bolstering speculation that an opposition candidate will win this year’s presidential election, fueling gains in the country’s bonds.
A poll today showed Fernandez’s image will probably suffer after she initially suggested the death was a suicide, then changed her story to say that he was murdered as part of a plot to soil her administration’s reputation. Argentine bonds due 2024 have climbed 2 cents on the dollar to a six-month high of 99.49 cents over the past four days as the scandal unfolded, and they’re heading for the biggest increase in 10 weeks.