Leftist’s Flop in Colombia Sparks Wild Election-Bet Stock Rally

It’s been an unusual start to the year for Colombian stocks.

For one, the market is way up — some 21% in dollar terms, more than almost any other market in the world. And then there’s the odd rationale fueling it: the leftist president, Gustavo Petro, is mismanaging the country and its international relations so badly that, when elections next come around, a more conservative, pro-business candidate is bound to win.